Analysts cite AI concerns and geopolitical risks as key factors pressuring IT services valuations before ACN reports on June 18.
Goldman Sachs and Stifel cut their price targets on Accenture (ACN) to $270 from $300 and $315, respectively, while maintaining Buy ratings. Both firms highlighted growing uncertainty around artificial intelligence’s long-term impact and persistent geopolitical risks as headwinds for the IT services sector.
The reductions come ahead of Accenture’s fiscal third-quarter earnings, due June 18. Analysts noted the company’s strong backlog and client budget visibility but warned that market expectations have softened. Stifel’s David Grossman described conditions as stable but acknowledged investor caution.
Accenture provides consulting and technology services globally, with exposure to AI-driven demand shifts. The stock has faced valuation pressure amid broader sector concerns.