Baird analyst David Koning lowered the firm’s price target on Accenture to $290 from $310 and keeps a Neutral rating on the shares. The analyst said Q1 results were solid, but Bookings decelerated to +6% year-over-year and Consulting Book-to-Bill was less than1X. Koning views the risk/reward as balanced but interesting around $250.
Published first on TheFly
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Read More on ACN:
- Accenture Dips on Bleak Q2 Forecast
- Accenture reports Q1 new bookings $16.22B
- Accenture backs FY23 operating cash flow view $8.5B-$9B
- Accenture sees Q2 revenue $15.2B-$15.75B, consensus $15.59B
- Accenture raises FY23 EPS view to $11.20-$11.52 from $11.09-$11.41
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