RBC Capital raised the firm’s price target on Accenture (ACN) to $295 from $285 and keeps an Outperform rating on the shares after its Q1 earnings beat. The company delivered a solid quarter beating estimates, with overall bookings up 10% y/y in local currency and AI bookings up about 22% from Q4, the analyst tells investors in a research note. The firm is also slightly increasing its price target to reflect Accenture’s increasingly evolving AI partnership ecosystem, which will prove positive to long-term growth, RBC added.
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