Truist on Accenture plc (ACN): 'AI Starting to Scale'

Truist Securities analyst Arvind Ramnani reiterated a Buy rating and $317.00 price target on Accenture plc (NYSE: ACN).

The analyst commented: "Key Takeaways from Meeting with ACN's Chief AI Data Officer: AI Starting to Scale; We recently caught up with Lan Guan, Accenture’s Chief AI & Data Officer to better understand the current state of AI-related work for the industry. Per Ms. Guan, enterprises are shifting focus from exploratory to implementation and scaling AI projects. The hurdles for scaling are largely enterprise specific (gaps in digital core, data readiness, talent/skills related to AI, and conservative spending). In our view, Accenture's AI revenue is well positioned to grow, given its breadth of partnerships, however, AI driven cannibalization risk remains, See here for our industry report covering AI; and here for the company note."

For an analyst ratings summary and ratings history on Accenture plc click here. For more ratings news on Accenture plc click here.

Shares of Accenture plc closed at $276.80 yesterday.

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