Accenture price target lowered to $395 from $425 at Guggenheim

Guggenheim lowered the firm’s price target on Accenture to $395 from $425 and keeps a Buy rating on the shares. A worse-than-feared outlook revision “continues to garner skepticism” around the company’s Q4 sequential ramp and exit rate, but the firm remains constructive over the medium-term and expects Accenture to benefit from an eventual recovery in discretionary demand, the analyst tells investors.