UPDATE: Credit Suisse Raises Target on Towers Watson to $75

Credit Suisse maintains its Buy rating on Towers Watson

and raises its price target to $75 from $73 a share on higher EPS estimates following the company's beat on quarterly earnings. Credit Suisse says, "TW nicely beat expectations on accelerating rev growth and expanding margins. Our 3QE EPS goes from $1.41 to $1.36 (prior Street $1.38) while our FY12E EPS changes from $5.04 to $5.18 (prior Street at $5.02). We reiterate our Buy and are raising our price target from $73 to $75 due to our higher EPS estimates. We rate TW a Buy due to its attractive relative valuation and lower-risk, solid growth." TW closed at $63.74 a share on Monday.