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Investing.com - Mizuho (NYSE:MFG) lowered its price target on Accenture plc (NYSE:ACN) to $348.00 from $365.00 on Tuesday, while maintaining an Outperform rating on the consulting firm’s stock.
The price target reduction comes despite Accenture reporting strong quarterly results and raising its fiscal year 2025 constant currency growth guidance to 6% to 7%, up from the previous range of 5% to 7%.
Mizuho cited two primary concerns behind its decision: a second consecutive quarter of soft quarterly bookings growth and concerns about fiscal year 2026 growth prospects.
The firm characterized these issues as "transitory" and described Accenture as a "best-in-class operator" that will likely gain market share when the business cycle improves, due to its execution capabilities and leadership position in next-generation technology solutions like generative AI.
The revised price target primarily reflects lower organic constant currency growth expectations for Accenture’s fiscal year 2026 performance.
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