Accenture Rides On Longer-Term AI Opportunity, Analyst Forecasts Steady Margin Expansion
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Keith Bachman has reiterated the Market Perform rating on Accenture Plc (NYSE:ACN), raising the price target to $360 from $355. Bachman expects Accenture to continue to drive strong revenue growth with steady margin expansion over time. He also sees potential for Accenture to become a leader in AI and generative AI, but notes that this will take time to impact signings and revenues. However, he also highlighted a potential negative impact of generative AI on the supply side, which could create revenue headwinds for Accenture and other IT services companies.
September 27, 2023 | 6:35 pm
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Accenture's price target has been raised by BMO Capital Markets analyst Keith Bachman, who sees potential for the company to become a leader in AI and generative AI. However, he also warns of potential revenue headwinds due to generative AI.
The news is directly related to Accenture and its future prospects. The raised price target indicates the analyst's positive outlook on the company's potential in AI and generative AI. However, the potential negative impact of generative AI on the supply side could create revenue headwinds, which could negatively impact the company's stock price in the short term.
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