Credit Suisse analyst Charles Brennan downgraded Accenture to Neutral citing mixed Q3 results and high relative valuation. The analyst said Accenture reported the first slowdown in growth momentum in over 2 years and gross margin weakness that was offset by sales and marketing and G&A savings. Brennan maintained his $120 price target saying there is limited multiple expansion opportunity.
IBM (IBM) is scheduled to report results of its fiscal first quarter after the market close on April 24, with a conference call scheduled for 5:00 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here