UPDATE: Morgan Stanley Raises PT to $75 on Accenture Following Q4 Earnings

Morgan Stanley reiterated its Overweight rating on Accenture

and raised its price target from $72 to $75. Morgan Stanley commented, "From a stock perspective, F4Q seems to be a straightforward positive following some volatility in IT Services results in 1H12. We expect ACN to trade higher on the back of a bullish FY13 guide (5-8% CC) and strong F4Q bookings (+18% CC), which were ACN's highest ever." Accenture closed at $65.38 on Thursday.