Accenture Suffers From Stormy Conditions in IT Services

Accenture is getting hit by a stormy environment in IT services. SIG Susquehanna analyst James Friedman says in a research note that IT services may be getting hurt as companies prioritize spending on other software. He also sees potential weakness in the sector from pricing pressure due to automation and delays in orders because of generative AI. “There is something in the weather for IT Services, and even Accenture is getting wet,” Friedman says. He says there isn’t enough upside and downgrades the stock to neutral from positive. Shares fall 9.1%, to $345.98.

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