RBC Lifts Accenture (ACN) Target on Strong Bookings and AI Demand

Core Insights - Accenture plc (NYSE:ACN) has been recognized as one of the 13 Best Debt Free Dividend Stocks to Buy Now [1] - RBC Capital has raised its price target for Accenture to $295 from $285, maintaining an Outperform rating following strong Q1 earnings [2] - The company reported a 10% year-over-year increase in overall bookings in local currency, with AI bookings rising approximately 22% from Q4 [2] - Accenture has agreed to acquire Cabel Industry from the Fibonacci Group, aiming to enhance its technology and solutions for financial institutions in Italy [3] Financial Performance - Accenture's Q1 earnings exceeded expectations, prompting RBC to adjust its price target upwards [2] - The increase in overall bookings by 10% year-over-year indicates strong demand for Accenture's services [2] - AI bookings have shown significant growth, increasing by about 22% from the previous quarter, reflecting the rising demand for AI solutions [2] Strategic Moves - The acquisition of Cabel Industry is expected to strengthen Accenture's offerings in the financial services sector, particularly in Italy [3] - The integration of Cabel Industry's capabilities with Accenture's existing assets is anticipated to create synergies that enhance innovation and efficiency for clients [3] - Accenture aims to deepen its capabilities in banking and insurance, focusing on credit management and accelerating technology adoption among mid-market institutions [3] Operational Focus - Accenture is committed to helping enterprises modernize by building digital foundations and leveraging AI across operations [4] - The company's strategy emphasizes delivering value at scale and speed throughout organizations [4]