Behind the AI frenzy, there has not been a turning point in enterprise IT budgets yet! Accenture (ACN.US) was downgraded by Morgan Stanley, with the target price cut to $177.

According to the Golden Finance APP, Morgan Stanley lowered its rating on Accenture (ACN.US) to "hold" from "buy" on Monday, with a target price lowered from $240 to $177. The reason is that the rationalization of spending related to artificial intelligence (AI) has not yet truly occurred.