BMO Capital lowered the firm’s price target on Accenture (ACN) to $230 from $300 and keeps a Market Perform rating on the shares. The company reported a reasonable Q2 with impressive results in free cash flow being a standout, the analyst tells investors in a research note. BMO adds however that while it believes Accenture has strong AI positioning due to factors such as scale, partnerships, and training investments, it continues to question whether AI is a longer-term tailwind given efficiency gains for most of its IT services.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACN:
- Accenture price target lowered to $250 from $275 at Guggenheim
- Accenture: Confident Long‑Term Growth Strategy Outweighs Near‑Term IT Spending Headwinds
- Accenture price target lowered to $265 from $330 at Baird
- Accenture price target lowered to $300 from $330 at Goldman Sachs
- Accenture price target raised to $282 from $275 at TD Cowen