UPDATE: JP Morgan Raises PT to $72 on Accenture on Bookings and Execution - Accenture (NYSE:ACN)

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JP Morgan reiterated its Overweight rating on Accenture (NYSE: ACN) and raised its price target from $70 to $72. JP Morgan commented, "ACN's F4Q report was solid, highlighted by very strong bookings that should keep the stock in positive territory today- a victory in our view given high expectations going into results. FY13 revenue and margin outlook was consistent with our/broader expectations. ACN is executing well and continues to take share. We tweak up our estimates and remain OW on ACN, with the upcoming analyst conf (Oct 11th in NYC) as the next catalyst where we believe the focus will be on the company's diverse and attractive total return profile to justify its higher multiple."Accenture closed at $65.38 on Thursday.

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