Accenture price target lowered to $348 from $365 at Mizuho

Mizuho lowered the firm’s price target on Accenture (ACN) to $348 from $365 and keeps an Outperform rating on the shares. The firm says that despite reporting “another strong quarter of broad-based results” and raising fiscal 2025 constant currency growth guidance at the low-end, the second consecutive quarter of “soft” quarterly bookings growth and fiscal 2026 Department of Government Efficiency concerns drove a selloff in Accenture shares Friday. The firm believes these are transitory issues and views the company as a “best-in-class operator that will likely take increasing market share when the cycle turns.”