Shares of Accenture Ltd. , the number two consulting firm, jumped 4.5 percent yesterday after it reported quarterly results that beat Wall Street expectations and raised its 2007 profit forecast.

At one point they had risen they were up by eight percent, but Accenture shares finished at $36.67, up by $1.59.

The earnings prompted a flurry of positive reports from brokerages. Banc of America Securities raised its price target on the stock to $43 from $38.50, Credit Suisse raised its target to $41 from $37, and Prudential Securities raised its target to $45 from $38.

“Accenture’s November quarter results confirmed solid momentum across most major business lines and operating groups,” Goldman Sachs analyst Julio Quinteros said in a note to clients. He raised his profit forecasts for the company in fiscal 2007, fiscal 2008 and fiscal 2009.

The company said on Wednesday that net income for its first fiscal quarter, ended November 30, rose 32 percent to $284.2 million, or 46 cents per share. Revenue before reimbursements rose 14 percent to $4.75 billion.

Analysts polled by Reuters Estimates had expected profit of 41 cents a share on revenue of $4.52 billion.

Accenture said it now expects fiscal 2007 net earnings per share of $1.80 to $1.85, up three cents from its previously announced range of $1.77 to $1.82.