UPDATE: Deutsche Bank Raises PT to $87 on Accenture Plc on Expected Consulting Rebound

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Deutsche Bank maintained Accenture Plc
ACN
with a Buy rating and raised the price target from $75.00 to $87.00. Deutsche Bank noted, "On March 28, we estimate ACN to post 2Q13 revs of $7.07bn (+4.0% Y/Y, +5.0% cc) and EPS of $0.98. In our view, ACN will continue above-market growth from share gains, but the key for further upside in the shares will be dictated by a stronger-than-expected rebound in Consulting growth rates in 2HFY13 (shares expecting this in our view despite a continued soft spending environment currently). We believe ACN will reiterate FY13 guidance, remain the clear leader in IT Services and see a pick-up in demand in 2H13." Accenture Plc closed at $78.35 on Friday.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsDeutsche Bank
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