TD Cowen analyst Bryan Bergin upgrades $Accenture (ACN.US)$ to a buy rating, and adjusts the target price from $293 to $400.
According to TipRanks data, the analyst has a success rate of 54.0% and a total average return of 5.7% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Accenture (ACN.US)$'s main analysts recently are as follows:
Accenture is identified as the most favorably positioned entity within the IT services sector to harness forthcoming demand for generative artificial intelligence, following the recent update to the company's model post fiscal Q4 results.
The expectation is set for a potential increase in the stock's multiple as general AI is anticipated to drive revenue growth in conjunction with a sustained return of capital to shareholders.
The main insights from Accenture's earnings call indicated that the upper range of their fiscal year 2025 constant currency revenue growth forecast, spanning 3%-6%, doesn't count on an uptick in discretionary spending. Conversely, the lower end of the projection is designed to withstand some potential decline. It is believed that the market will value the cautious stance reflected in this preliminary outlook for FY25. This perspective is further reinforced by the current backlog containing a greater quantity of substantial transformational agreements compared to the previous year.
Note:
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