Deutsche Bank announced on Wednesday that it had downgraded its recommendation on Accenture shares from 'buy' to 'hold', with a price target reduced from $409 to $295.

After the positive trajectory that has characterized the technology consulting group over the past two years, the analyst fears that the company is now losing market share to competitors in a sector that appears to be under pressure.

From his point of view, the company's outlook remains unfavorable, with the possibility of further downward revisions to market forecasts, he warns.

As for generative AI, the intermediary fears, based on his contacts in the sector, that the emergence of this new technology will not have the major effects expected on the group's business in the short or medium term.

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