Accenture price target lowered to $392 from $399 at RBC Capital

RBC Capital lowered the firm’s price target on Accenture (ACN) to $392 from $399 and keeps an Outperform rating on the shares. The company delivered solid Q2 numbers, but the shares are reacting negatively to management commentary emphasizing a lack of visibility from DOGE-driven contract reviews of federal work as well as a broader concern of uncertainty from clients, which may stunt spending decisions, particularly on discretionary work, the analyst tells investors in a research note. Demand environment has not bottomed and will continue to weigh on Accenture’s growth outlook, RBC added.