UPDATE: Societe Generale Upgrades Accenture PLC to Hold, Raises PT Following FY13 Earnings Report

In a report published Monday, Societe Generale analyst Richard Nguyen upgraded the rating on

from Sell to Hold, and raised the price target from $70.00 to $75.00. In the report, Societe Generale noted, “Following FY13 earnings, we raise our FY14-15 EPS estimates by 4% on average and also roll our valuation forward 12 months. As a result we nudge up our target price to $75 from $70 and raise our rating to Hold from Sell. We expect the group to reach an inflection point by year-end in Consulting thanks to a gradual improvement in Europe.” Accenture PLC closed on Friday at $74.09.