Barclays Maintains an 'Overweight' on Intuit (INTU); Expect Largely In-line Q4 Results/Outlook

Barclays maintains an 'Overweight' on Intuit (NASDAQ: INTU) price target lowered by $2 to $54.

Barclays analyst says, "Reiterate Positive View; Expect Continued Strength from Web Services in FY12: Intuit reports Q4 results on Thursday. We expect largely in-line Q4 results and FY12 outlook. We maintain our positive view on the shares, given our expectation for continued cross-selling momentum and the shift to web services in the QuickBooks, TurboTax and Personal Finance businesses as we move through FY12."

"...However, we expect FY12 revenue guidance to be largely in line with our estimate for $4.237 billion, representing 10% growth, at the low end of the company's longer-term target for double-digit growth. We believe there is some downside risk to our estimate for FY12 EPS of $2.92, given an aggressive assumption for margin expansion of 180 basis points."

For more ratings news on Intuit click here and for the rating history of Intuit click here.

Shares of Intuit closed at $42.88 yesterday.

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