Deutsche Bank Adjusted Numbers on Accenture (ACN) in Wake of Q4 Results

Deutsche Bank reiterated a Buy rating on Accenture (NYSE: ACN) and raised its price target to $70.00 (from $68.00).

“ACN delivered 4Q12 revs of $6.8bn (+2% Y/Y, +9% cc, high end of guidance), above our $6.6bn estimate, and EPS of $0.88 matched our estimate despite an $0.08 headwind from a higher-than-expected tax rate,” said analyst Bryan Keane.

“Positively, ACN guided FY13 revs 5-8% cc (above our 4-7% estimate) and EPS slightly above our estimates mostly due to share buybacks and a lower tax rate. However, we expect leading indicators bookings and headcount growth to moderate in FY13,” he said.

Deutsche Bank increased FY13 and FY14 EPS to $4.29 and $4.76.

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 $65.38 yesterday.

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