William Blair Reiterates Outperform Rating on Accenture plc (ACN)
William Blair analyst Maggie Nolan reiterated an Outperform rating and {REMOVEPT} price target on Accenture plc (NYSE: ACN).
The analyst comments "We believe Accenture remains a market leader in developing and investing in next-generation capabilities, and the company’s global presence and scale remain strategic differentiators that are not easily replicated. We are confident that Accenture is capable of capitalizing on demand for AI and tangential services and setting up clients to prepare for this next wave of transformation. Accenture reported $1 billion in GenAI bookings this quarter, up 11% sequentially, bringing the total to $3 billion for fiscal 2024. We are encouraged that Accenture continues to capture demand for large transformational deals, as evidenced by33 new clients in the fiscal fourth quarter with quarterly bookings greater than $100 million(125 clients during fiscal 2024). For fiscal 2025, management expects low- to mid single-digit growth in consulting and managed services. We are incrementally encouraged that the demand environment is stabilizing for Accenture, including management’s expectations for flat to improving performance in the organic business"
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Shares of Accenture plc closed at $355.81 yesterday.