BMO Capital Markets analyst Keith Bachman reiterated the Market Perform rating on Accenture Plc (NYSE: ACN), lowering the price target to $350 from $360.
ACN reported Q4 revenue growth of 4% Y/Y to $15.98 billion, missing the consensus of $16.07 billion. Consulting revenues decreased by 2% Y/Y to $8.20 billion, while Managed Services revenues increased by 10% Y/Y to $7.79 billion.
Bachman writes that FY24 revenue growth of 2-5% y/y CC was about 1pt below expectation and was disappointing, although it may be conservative.
Meanwhile, the analyst thinks it is appropriate for Accenture to ...