Accenture plc (NYSE:ACN) is highlighted as one of the AI stocks gaining attention on Wall Street. Analysts at Truist Securities have given it a “Buy” rating with a $317 price target. Despite concerns about GenAI cannibalizing existing business, ACN is seen as a compelling investment opportunity for enterprise modernization trends.

ACN’s business mix is expected to support mid-single-digit growth and stable margins over the long term. The stock currently trades at a discount to its historical average due to concerns about GenAI cannibalization, but strategic partnerships and a track record of cannibalizing legacy revenue are viewed as positive factors for investors.

While ACN offers strategy and consulting services, some analysts believe that other AI stocks may offer greater upside potential with less downside risk. For those seeking undervalued AI stocks with potential benefits from Trump-era tariffs and the onshoring trend, a free report on the best short-term AI stock is available.

In conclusion, ACN is positioned as a strong investment opportunity in the AI sector, but investors should consider other AI stocks for potentially greater returns with less risk. For more insights on AI stocks, readers can explore articles on the market’s radar and the ones analysts are closely watching.

Read more at Yahoo Finance: Truist Starts Coverage on Accenture (ACN) With $317 Price Target