Accenture plc (ACN) PT Lowered to $398 at Mizuho

Mizuho analyst Dan Dolev lowered the price target on Accenture plc (NYSE: ACN) to $398.00 (from $428.00) while maintaining a Outperform rating.

The analyst comments "Accenture is set to report F2Q25 results on Thursday. F1Q was a positive catalyst marked by ACN raising its FY25 CC revenue growth outlook. But, with fresh macro uncertainty, will F2Q be as impressive? While we remain upbeat about ACN being a best-in-class operator, we highlight three potential risks heading into F2Q earnings: (1) Yet another delay in the anticipated positive inflection in our proprietary opex growth analysis for the S&P 500 constituents, which correlates well with Accenture's CC growth. (2) Small downtick in our IT Jobs tracker. (3) Accelerating news flow regarding the potential adverse impact of DOGE on government IT budgets. Lowering estimates. We now expect CY26E EPS of $14.20 (vs. $14.28 prior). We value ACN on 28x CY26E (down from 30x prior) amid slower expected growth and lower valuations across the entire IT Services sector. Lowering PT to $398 from $328. Reiterate Buy."

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