Accenture Hit by Wave of Analyst Cuts

ACN is taking fire from Wall Street. Four analysts slashed price targets on the IT services giant today. TD Cowen went furthest, cutting its rating to Hold from Buy. The firm's new target is $150, down from $258 — a 42% reduction. RBC Capital and Susquehanna also trimmed targets sharply, to $175 and $140 respectively.

Accenture's market cap stands at $78.3 billion. The coordinated sellside retreat suggests broad concern about AI's impact on consulting demand and slowing enterprise IT spending.

KR also drew negative analyst attention. UBS's Michael Lasser cut his target to $63 from $70, maintaining a Hold. Telsey Advisory Group's Joseph Feldman trimmed to $78 from $82, keeping a Buy. Both moves come as the grocery giant faces margin pressure and competition from discount rivals.

On the positive side, KIM earned an upgrade from Wolfe Research. Analyst Andrew Rosivach lifted the REIT to Buy from Hold with a $28 target. Strip-mall landlords are benefiting from resilient consumer traffic and tight retail vacancy rates.

CVS saw its consensus target price nudge higher to $105.38, reflecting growing confidence in the pharmacy chain's restructuring progress. Analysts now broadly rate the stock a Hold, with the target up slightly from $105.