Analysts Slash Accenture's Price Targets Over Softer Booking Potential, Guidance & Economic Weakness

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.
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