J.P. Morgan Lowers PT on Accenture plc from $33 to $302, Keeps Overweight Rating on the Stock

Accenture plc (NYSE:ACN) is one of the 10 Most Promising Technology Stocks to Invest In. On August 20, J.P. Morgan lowered the price target on Accenture plc (NYSE:ACN) from $334 to $302, keeping its Overweight rating on the stock.

Tien Tsin Huang from J.P. Morgan downgraded the price target of ACN, pointing out the company’s targets in IT services post the Q3 FY2025 reports. The analyst mentioned that the IT services sector is in its third straight year of below-average revenue growth. Huang believes that an improvement in growth is needed to drive higher valuation multiples.

For now, Huang remains cautious but is also optimistic that sector growth will improve. During Q3, Accenture made significant investments in strategic areas, including $297 million in acquisitions and the growth of its data and AI workforce to almost 75,000. The company also experienced strong quarterly bookings of $19.7 billion, with 30 clients having bookings greater than $100 million.

As of August 25, Accenture plc’s (NYSE:ACN) average price target of $330, based on analysts’ estimates, implies an upside of almost 28.88% from current levels.

Accenture plc (NYSE:ACN) is a professional services company that offers strategy and consulting, technology and operations, industry X, and song services.

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Disclosure: None. This article is originally published at Insider Monkey.