Morgan Stanley Lowers Accenture Rating, Cites AI Spending Squeeze on IT Services
Morgan Stanley downgraded Accenture to Equal-weight from Overweight and cut its price target to $177 from $240, arguing that enterprise AI investments are crowding out traditional IT services spending. The bank cited survey and channel checks showing modest IT services budget growth in 2026 and warned of potential pressure on Accenture's bookings, …