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Accenture initiated with a Buy at Guggenheim

Guggenheim initiated coverage of Accenture with a Buy rating and $425 price target. Near-term revenue softness is “apparent,” but over the medium-term the analyst views Accenture as among the best-positioned companies in IT Services to capture secular demand themes given its end-to-end service offerings, investments ahead of demand trends, and durable capital allocation framework, the analyst tells investors.

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