Barclays Maintains an 'Equalweight' on Accenture plc (ACN); Demand Shift Increasingly in Focus After Solid 1Q12 Result

Barclays maintains an 'Equalweight' on Accenture plc (NYSE: ACN) price target of $58.00.

Barclays analyst says, "ACN's 1Q12 results continued to show strength, with each operating group and main geographic region enjoying double-digit constant currency growth. Cost-takeout and efficiency initiatives featured heavily among types of contracts showing greatest momentum. The FY 2012 outlook was in line with our expectation for a reiteration of constant currency revenue, margin, bookings, and cash flow targets, as well as for a downward adjustment to EPS associated with FX (new FY 2012 EPS guidance of $3.76-3.84, from prior $3.80-3.88, compared to our $3.78 and consensus $3.83)."

"We believe ACN is likely to continue showing better growth relative to last cycle (given a strengthened global delivery network and clients' more structural, rather than tactical, approaches to investment); however, we continue to consider shares fairly priced for the risk/reward at ~15x FY 2012 EPS."

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 $56.13 yesterday.

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