DBS analyst Sachin Mittal maintains $Accenture (ACN.US)$ with a hold rating, and adjusts the target price from $325 to $360.
According to TipRanks data, the analyst has a success rate of 82.3% and a total average return of 24.9% 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 regarded as the most favorably positioned entity in IT services, anticipated to harness the forthcoming surge in generative artificial intelligence demand, according to an analyst's recent note to investors post the company's fiscal Q4 results.
The expectation is for an expansion in the valuation multiple for Accenture as the advent of Gen AI is anticipated to drive revenue growth in conjunction with sustained capital distribution.
The key insights from Accenture's earnings discussion emphasized that the upper boundary of their constant currency revenue growth forecast for FY25, ranging from 3% to 6%, is based on the premise of a static level of discretionary spending, meanwhile, the lower end has the capacity to absorb some potential downturns. It is believed that the market will value the apparent prudence in these early projections for FY25, and this perspective is reinforced by a currently larger pipeline of significant transformational contracts compared to the previous year.
Note:
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