Investors are favoring certain stocks over others as the market weighs the likelihood of an additional rate hike by the Federal Reserve later this year. Wall Street is coming off a losing week, with the Nasdaq Composite Index closing 1.9% lower, the S & P 500 falling 1.3% and the Dow Jones Industrials shedding 0.8%.
Their average price target suggests 1.3% downside, according to FactSet. Shares have added almost 5% in 2023. Accenture is also overbought, with nearly 56% of analysts rating the professional services stock a buy. It has an RSI of more than 83. The company's average price target suggests shares could gain 3.3%.The stock is a "stealthy way to think about AI," Piper Sandler's chief market technician recently told CNBC.
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