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Investment Q&A

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Q: Hi 5i: Since March, GIB.B has been trending downwards, is there a reason for it. Is it a BUY today ? or should I wait until it settles!
thanks

Asked by Fernando on April 24, 2024

5i Research Answer:

While there is not much company specific news from GIB.A, in mid-March Accenture reported Q2 earnings that were decently weak and highlighed macroeconomic challenges. ACN is one of GIB.A's most direct competitors and is the largest player in the IT consulting space so this likely caused the stock price to dip. Additionally, TD downgraded GIB.A to a HOLD citing the weak quarter from ACN and potential impact of macroeconomic headwinds.

Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in ACN.

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