UPDATE: Barclays Capital Reiterates Equal-Weight Rating, Raises PT on Accenture Plc on Strong Demand

In a report published Friday, Barclays Capital analyst Darrin D. Peller reiterated an Equal-Weight rating on

, and raised the price target from $89.00 to $92.00. In the report, Barclays Capital noted, "In F2Q15, revenue grew 5% Y/Y in USD and 12% in LC to $7.49BN (vs. our estimate for $7.32BN; consensus of $7.38BN). Better than expected top-line growth was broad-based, with CM&T and H&PS showing notable strength (15% Y/Y LC growth for both segments). While Resources was the weakest group (growing 6% LC Y/Y), we note the acceleration from weaker growth in prior quarters was a driver of sequential improvement. Margins expanded 30bps Y/Y, driven by lower than expected SG&A and higher utilization (91% vs. 87% in F2Q14). EPS of $1.08 was 1c lower than our estimate but 1c higher than consensus." Accenture Plc closed on Thursday at $94.17.