JPMorgan lowered its price target on Accenture (NYSE: ACN) to $201 from $247. The firm maintained an Overweight rating despite the adjustment. Analysts cited lackluster peer results and debates over AI tokenomics as reasons for the change. Accenture shares have declined 12% since the last earnings report. The S&P 500 gained 12% over the same period.
TD Cowen reduced its price target to $258 from $282. The firm maintained its Buy rating on the stock. Macroeconomic pressures and AI developments continue to weigh on the IT services sector. Analysts expect upcoming third-quarter results will not reverse current investor sentiment.