Accenture Likely To Gain Share Through Downturn, Counted On Total Enterprise Reinvention, Analyst Says - Accenture (NYSE:ACN)

Citi analyst Ashwin Shirvaikar reiterated a Buy on Accenture Plc ACN.
Shirvaikar was cautious heading into Accenture's quarter even though the analyst expected a solid quarter as many investors looked for reduced expectations as a way to de-risk the stock.
Shirvaikar's contention that the Street was mis-modeling the quarters was relatively accurate.
There were two ways forward expectations changed even though overall revenue growth expectations were left alone.
Based on today's comments, the forward expectations were likely cleaner.
The analyst believed Accenture is counting on "Total Enterprise Reinvention" as a corporate push to pull in a broader package of services that should help a 2H23 recovery.
Shirvaikar believes that Accenture can gain a share through a downturn.
Price Action: ACN shares traded lower by 3.49% at $255.25 on the last check Monday.