Accenture Remains Top IT Pick for Morgan Stanley

In a research report published today, Morgan Stanley reaffirmed that Accenture Plc ACN is its top IT services pick heading into its F2Q12 earnings. Morgan Stanley further commented in the report, “Indicators show demand is firm and ramping, which suggests that upside to estimates is likely. We also expect better messaging heading into ACN's seasonally strong F3Q, which we think will push forward expectations higher.” Morgan Stanley maintains its Overweight rating and $66 PT on Accenture, which is currently trading at $61.47.