With Its Best-In-Class Model, Deutsche Bank Likes This Consulting Stock

Investors are currently being advised to consider investing in Accenture, which has been voted one of the best-in-class consulting companies with a model that allows it to deal with market volatility as well as being one of the best-of-breed companies overall.

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Based on the company's latest quarterly earnings report from Accenture, analyst Bryan Keane has revised his estimates by 8 cents for the company's earnings in 2023 after the company's recent quarterly results, which showed strong revenue growth, a positive earnings per share performance, and a trend in booking growth, all of which were seen in the most recent quarter.

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In addition to this, Accenture announced that it plans to cut 19,000 jobs during the next 18 months in order to deal with the slowing IT spending and to improve the company's revenue expectations in order to cope with slowing IT spending in the coming years.

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The company is expected to incur a final cost of $1.5 billion through 2024 as a result of these cuts as a result of these cuts. In his note to clients on Thursday, Keane said, however, that the company's profits can continue to grow with these initiatives, as long as "structural savings" can be established for the company.

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After undergoing a turbulent year in 2022, when the stock dropped nearly 36%, the stock is now up 1.8% as of today, according to Deutsche Bank's $292 price target, indicating that shares will increase approximately 7% from Thursday's close.