- Accenture plc ACN clocked 15% revenue growth in Q4. It launched additional buyback and boosted the dividend.
- BMO Capital analyst Keith Bachman lowered the price target on Accenture to $312 from $315 and kept a Market Perform.
- Though the company delivered another "solid" quarter and guided FY23 revenue growth, he remained concerned with Accenture's bookings potential in FY23 on a tough compare and in a weaker economy.
- He saw the management forecast book-to-bill ratio above parity but found that it still leaves room for uncertainty and could keep the stock range-bound.
- Citi analyst Ashwin Shirvaikar lowered the price target on Accenture to $305 from $315 and kept a Buy.
- Accenture did well with its Q4 earnings and fiscal 2023 comments.
- He acknowledged a "phase change" from the frenetic pace of post-pandemic digital transformation to a period where the need is accepted (also irreversible). However, cyclical concerns are tempering decision-making.
- The analyst looks for caution across the sector in calendar Q4 but says this could favor Accenture in relative terms.
- RBC Capital analyst Daniel Perlin lowered the price target on Accenture to $335 from $357 but kept an Outperform.
- The company's Q4 results were "solid."
- However, his price target cut reflects the management's potentially "conservative" FY23 guidance and FX headwinds.
- Price Action: ACN shares traded lower by 1.46% at $258.48 on the last check Friday.
- Photo Via Company
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