UPDATE: Deutsche Bank Reiterates Hold Rating, Lowers PT on Towers Watson & Company Following Lowered EPS Forecasts

In a report published Thursday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on

, but lowered the price target from $93.00 to $90.00. In the report, Deutsche Bank noted, “Lowering EPS forecasts due to FY14 commentary. F1Q rev guidance was below our estimates and the Street. Our 1QE EPS goes from $1.24 to $1.17 (prior Street $1.20) and our 2QE EPS falls from $1.50 to $1.41 (prior Street at $1.55). Our FY14E EPS falls -4% from $5.87 to $5.66 (prior Street at $5.80) due to our lower organic growth and margins based on management's FY14 commentary. We are lowering our price target from $93 to $90 and maintain our Hold.” Towers Watson & Company closed on Wednesday at $82.40.