Wall Street Slashes Accenture Targets, Citing Weak Bookings and AI Headwinds
Summary
Multiple analysts, including TD Cowen and Jefferies, have downgraded Accenture and significantly cut price targets following the company's Q3 fiscal 2026 results. TD Cowen moved to Hold from Buy, slashing its price target to $150 from $258, while Jefferies reiterated Hold and cut its target to $130 from $185. This comes after Accenture's stock plunged nearly 25% last week, its worst weekly performance on record, due to lowered full-year revenue guidance. Analysts are citing a 3% decline in bookings, a decrease in managed services, and a faster-than-anticipated shrinking market for traditional services due to AI, indicating a challenging recovery and need for increased investment.
At the time of this announcement, ACN was trading at $121.20 on NYSE in the Technology sector, with a market capitalization of approximately $74.4B. The 52-week trading range was $120.24 to $307.77. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.