UPDATE: Societe Generale Reiterates Hold Rating, Raises PT on Accenture

In a report published Monday, Societe Generale reiterated its Hold rating on Accenture

, and raised its price target from $58.00 to $71.00. Societe Generale noted, “Following Accenture's strong FY12 results (to end-August), better-than-expected FY13 guidance and Analyst Day on 11 October, we are upgrading our FY13 revenue and EPS estimates by 4% and 9%, respectively. On our new estimates and revised DCF we are raising our TP to $71 from $58, but maintaining our Hold rating. We believe that Accenture's excellent fundamentals and growth prospects are now largely priced in.” Accenture closed on Friday at $69.40.