Deutsche Bank announced on Wednesday that it had downgraded its recommendation on Accenture shares from 'buy' to 'hold', with a price target reduced from $409 to $295.

After the positive trajectory that has characterized the technology consulting group over the past two years, the analyst fears that the company is now losing market share to competitors in a sector that appears to be under pressure.

From his point of view, the company's outlook remains unfavorable, with the possibility of further downward revisions to market forecasts, he warns.

As for generative AI, the intermediary fears, based on his contacts in the sector, that the emergence of this new technology will not have the major effects expected on the group's business in the short or medium term.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.