Mizuho analyst Dan Dolev initiated coverage of Accenture with a Buy rating and $426 price target. The firm expects a recovery in IT spending over the next two years to drive growth acceleration throughout FY24 and into FY25 and identifies Accenture as its top pick in the IT Services space. Accenture’s significant exposure to fast growing markets such as Cloud, which accounted for 50% of FY23 revenue, should result in growth outperformance relative to large IT Services peers, the analyst tells investors.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ACN:
- Accenture and Mujin announce joint venture around AI and robotics
- Accenture acquires Impendi, terms undisclosed
- Accenture, SandboxAQ team to deliver AI and quantum computing solutions
- Accenture agrees to acquire Navisite, terms not disclosed
- M & A News: Accenture (NYSE:ACN) to Acquire Work & Co
Questions or Comments about the article? Write to editor@tipranks.com