UBS and Raymond James downgrade Accenture (ACN -13.2%) following an FQ3 revenue miss market by...

|About: Accenture plc (ACN)|By:, SA News Editor
UBS and Raymond James downgrade Accenture (ACN -13.2%) following an FQ3 revenue miss market by light consulting sales/orders, and soft guidance. UBS' Steve Milunovich, who now rates shares Neutral: "With Oracle and Accenture missing, enterprise demand appears to remain weak, which probably means a soft earnings season for large computer names." He thinks IBM (IBM -2.8%) could still deliver 2H services growth due to less consulting exposure and strong orders, but believes risk has grown. (FQ3 results/call: I, II, III) (CC transcript)