Analysts trimmed their average target price on ACN this week. The new consensus target sits at $246.78, down from $249.19. Accenture's $115 billion market cap makes even small target cuts meaningful in dollar terms. The downward revision follows growing unease about IT services spending as clients tighten budgets.
Energy names moved the other way. TRGP saw its consensus target edge up to $283.50 from $282.25. Targa Resources benefits from rising midstream volumes. Analysts see the pipeline operator as well positioned with 19 buy ratings and just two holds.
Gold miner NEM also attracted upgrades. Its average target rose to $143.05. Newmont holds 18 buy ratings from the analyst community. Gold prices above $3,000 per ounce are driving earnings revisions higher across the sector.
In medtech, activity was heavy. Multiple analysts removed recommendations on MDT, EW, ZBH, and simultaneously. saw multiple changes at once. had its target cut slightly to $389.24.
The medtech sweep suggests a sector-level reassessment. Analysts may be resetting coverage following recent earnings. DVN rounded out the energy upgrades with its target moving to $61.24.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
