Accenture shares lost ground on the New York Stock Exchange on Wednesday, with Deutsche Bank expressing concern about possible market losses for the American technology consulting giant.

At around 11:00 a.m. (Wall Street time), the share price was down 1.2%, while the S&P 500 was up 0.7%.

After the positive trajectory of the past two years, the analyst fears that Accenture is now losing market share to its competitors in a sector that appears to be under pressure.

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

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

DB therefore reduces its recommendation from 'buy' to 'hold', with a price target reduced from $409 to $295.

Copyright (c) 2024 All rights reserved.