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Accenture: share price down, Wedbush more cautious

(CercleFinance.com) - Accenture shares fell sharply on the New York Stock Exchange on Wednesday, as analysts at Wedbush Securities lowered their price target for the stock from $400 to $350.


The research firm, which maintains its 'outperform' rating on the stock, believes that the series of appointments just announced by the consulting group, including a change in CFO, goes beyond a simple renewal of its management team.

This announcement, in our view, reflects the adjustments Accenture has decided to make in response to the changing dynamics of its sector, including the impact of generative AI on its business model, but also to the current problems of visibility at macroeconomic level", he stresses.

Accenture will publish its quarterly results on June 20.

At the end of the morning, the stock was down by just under 2%, while the S&P 500 was up by 1.2%.

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