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Accenture price target raised to $350 from $340 at Citi

Citi raised the firm’s price target on Accenture to $350 from $340 and keeps a Buy rating on the shares. Despite “bottomed-out investor sentiment” heading into the earnings print, Accenture was able to deliver relatively solid results that surpassed even Citi’s expectations, the analyst tells investors in a research note. The firm says the miss versus in-quarter expectations was due to currency while the fiscal 2024 constant currency outlook midpoint was maintained as the demand environment remains relatively unchanged.

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