RBC Capital lowered the firm’s price target on Accenture (ACN) to $392 from $399 and keeps an Outperform rating on the shares. The company delivered solid Q2 numbers, but the shares are reacting negatively to management commentary emphasizing a lack of visibility from DOGE-driven contract reviews of federal work as well as a broader concern of uncertainty from clients, which may stunt spending decisions, particularly on discretionary work, the analyst tells investors in a research note. Demand environment has not bottomed and will continue to weigh on Accenture’s growth outlook, RBC added.
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Read More on ACN:
- Accenture price target lowered to $355 from $370 at BMO Capital
- Accenture price target lowered to $395 from $400 at Guggenheim
- Accenture price target lowered to $372 from $390 at Baird
- Accenture price target lowered to $364 from $396 at Piper Sandler
- Accenture’s Growth Outlook and Booking Concerns Justify Hold Rating
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