(CercleFinance.com) – Wedbush Securities announced Thursday that it had raised its price target on Accenture, from $330 to $360, while renewing its ‘outperform’ opinion on the stock.
In a research note, the intermediary indicates that it expects a ‘lackluster’ publication on the occasion of the next release of the technology group’s quarterly results, scheduled for December 19.
The analyst believes that the company will also maintain its forecast of growth at constant exchange rates between 2% and 4% for the 2023/24 financial year.
‘This is quite typical of the seasonality of the months of November and December, characterized by low visibility with regard to clients’ upcoming annual budgets and their investment projects,’ he recalls.
‘That said, following the announcement of lower than expected order intake in the previous quarter, we expect a recovery in the order book in the first quarter of the 2023/2024 financial year,’ concludes Wedbush.
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