Wells Fargo Reiterates an 'Outperform' on Accenture plc (ACN); Strongly Performing Leader

Wells Fargo reiterates an 'Outperform' on Accenture plc (NYSE: ACN) price target range raised from $62-65 to $70-72.

Wells analyst said, "FQ2 revenue of $6.8B better than expected on strong 13% local currency growth. FQ2 EPS of $0.97 well-above Our/Street expectation of $0.86 primarily given lower-than-expected tax rate. Higher revenue outlook, and above average FH2 tax rate leads to solid increase in local currency growth rate to 10-12% from 7-10% and a $0.06 increase in EPS guide to $3.82-3.90. EPS estimate revisions: FY2012 to $3.88 from $3.80 and FY2013 to $4.28 from $4.21."

For an analyst ratings summary and ratings history on Accenture plc click here. For more ratings news on Accenture plc click here.

Shares of Accenture plc closed at $63.52 yesterday.

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