UPDATE 2-Capgemini eyes growth in challenging 2009

* Capgemini confident on 2009 sales growth

* Keeps 2008 financial goals

* Shares rise 5 percent

(adds CEO and CFO comments from call, share reaction)

By Dominique Vidalon

PARIS, Nov 13 (Reuters) - Capgemini (CAPP.PA), Europe's largest computer consultancy, said on Thursday it was confident it could achieve sales growth in 2009 despite an expected economic downturn.

The French company, which competes for IT budgets with U.S. giant Accenture (ACN.N) and France's Atos Origin (ATOS.PA), kept its financial goals for 2008, after third-quarter sales slightly beat expectations, and its shares rose 5 percent.

"Today we continue to see 2009 as a positive year though probably a challenging year...We envision growth for our group a little weaker than that of 2008 but a group that is still gaining market share in a slightly positive market," Chief Executive Paul Hermelin told a conference call.

Capgemini's comments came as sector analysts are bracing for a slowdown in IT spending starting with the fourth quarter 2008 as a result of a widening economic crisis.

Last month, rival Atos Origin predicted 2009 would be a tough year but said it was confident of achieving sales growth.

Capgemini's Hermelin would not make a detailed forecast for 2009 but said that revenue at the start of next year could grow at the 3-4 percent pace seen for the fourth quarter 2008.

For full year 2008, Capgemini still expects like-for-like sales growth of 4-5 percent, having achieved 6.1 percent in the third quarter.

The group also maintained a target to lift the 2008 operating margin to 8.5 percent of sales from 7.4 percent in 2007.

"With the good level of business achieved in the third quarter and in October, we are in a position to keep our guidance for the year," Hermelin said.

Bookings notably rose 3.4 percent in the third quarter, growing 6.6 percent in consulting, technology and local professsional services.

By 0942 GMT, Capgemini shares gained 4.19 percent at 25.34 euros, outperforming the Eurpean technology sector .SX8P.

"The group reiterated 2008 guidance, which is remarkable in the current climate," OddoSecurities analysts said in a note.

GOOD OCTOBER

In contrast to the turmoil on financial markets, Chief Financial Officer Nicolas Dufourcq said during the call that trading had been "good" in October with no pressure on prices while Hermelin said that "demand did not slow down".

"To date my main scenario is that clients are betting on a recession that will be short and that will not lead them to alter their investment plans", he said.

Capgemini has said its exposure to the financial sector represents 17 percent of revenue, with the bulk of clients in retail banking and card-payments. Exposure to the troubled investment banking sector is limited to 2 percent.

Capgemini reported a 0.5 percent rise in third-quarter sales to 2.098 billion euros, slightly above expectations.

Growth was driven by outsourcing and local professional services with all regions contributing to growth.

Ten analysts polled by Reuters expected revenue of 2.08 billion euros, on average.

Capgemini shares trade at 7.7 times estimated 2009 earnings against 6.6 times for Atos Origin. (Reporting by Dominique Vidalon; Editing by Hans Peters)