Analysts at Wedbush Securities have lowered their price target for Accenture from $400 to $350.

The research firm, which maintains its 'outperform' rating on the stock, believes that the series of appointments just announced by the consulting group, including a change of CFO, goes beyond a simple renewal of its management team.

This announcement, in our view, reflects the adjustments Accenture has made in response to the changing dynamics of its sector, including the impact of generative AI on its business model, as well as the current macroeconomic visibility issues", he stresses.

Accenture will publish its quarterly results on June 20.

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