JPMorgan lowered the firm’s price target on Accenture (ACN) to $290 from $302 and keeps an Overweight rating on the shares. The company reported solid fiscal Q4 results but the stock sold off amid questions on its new business optimization plan and whether tightening gross margins are structural, the analyst tells investors in a research note. JPMorgan is “very encouraged” that Accenture has seen measured positive net pricing and contract profitability in recent quarters.
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