UPDATE: Jefferies Raises Target to $63 on Accenture

Jefferies ups its price target from $58 to S63 on Hold-rated Accenture ACH on a great F2Q. Jefferies says, "We've admittedly missed the run in shares over the past 12-18 months (we underestimated top-line), and although we greatly admire ACN's strategy, execution, and brand, it's hard to get positive on the stock at current levels post robust F2Q results/outlook, because consulting growth is expected to continue slowing in F2H, and we view valuation (14.2x C13 P/E) as full." ACH closed at $63.52 a share on Thursday.