10 AI Stocks You Need to Watch: News & Ratings

7. Accenture plc (NYSE:ACN)

Number of Hedge Fund Holders: 79

Accenture plc (NYSE:ACN) offers strategy and consulting services. On March 17, Baird analyst David Koning upgraded the stock from Neutral to “Outperform” with a price target of $390.00. Koning is bullish on Accenture’s Managed Services, representing approximately 50% of the company’s $66.4 billion annual revenue. According to the analyst, it is expected to maintain robust demand. The analysts noted that Accenture’s stock has been weak in the past few years due to sluggish IT demand and Department of Government Efficiency, or DOGE, fears.

However, second-quarter fiscal 2025 can help it “beat” mildly. The company’s strong free cash flow exceeding $9 billion favor is also anticipated to help it return to favor, ultimately allowing it to benefit from generative AI, or GenAI, demand. Analysts led by Koning anticipate GenAI as a key factor contributing to the company’s return to favor in the market, with companies likely to turn to Accenture to develop/implement GenAI solutions (Consulting) and run those (ManagedServices).