Accenture price target lowered to $398 from $428 at Mizuho

Mizuho lowered the firm’s price target on Accenture (ACN) to $398 from $428 and keeps an Outperform rating on the shares ahead of the Q2 results on Thursday. The firm wonders whether Q2 will be as “impressive” as Q1 amid fresh macro uncertainty, and while the firm remains upbeat about Accenture being a best-in-class operator, potential risks heading into the earnings include another delay in the anticipated positive inflection in Mizuho’s proprietary operating expense growth analysis for the S&P 500 constituents, a small downtick in Mizuho’s IT Jobs tracker, and accelerating news flow regarding the potential adverse impact of DOGE on government IT budgets, the analyst tells investors in a research note.