Accenture: Goldman Sachs upgrades its recommendation to buy

(CercleFinance.com) - Goldman Sachs on Friday raised its recommendation on Accenture shares from 'neutral' to 'buy', believing the technology group to be best positioned to benefit from a recovery in corporate capital spending.


In a sector study, the analyst judges that the forecasts provided by the company for its current fiscal year 2024/2025 already incorporate the scenario of an economic slowdown.

In his view, the company could well outperform Wall Street forecasts thanks to an improving economic climate.

Goldman also argues that the quality of the company's activities in generative AI could be accretive to the financial statements from fiscal 2025/2026 onwards.

His price target has therefore been raised from $370 to $420.

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