Canaccord Genuity maintains a 'Hold' on Intuit (NASDAQ: INTU); Solid Early Read on Tax Season
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Price: $59.94 -1.14%
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Trade INTU Now!
Canaccord Genuity maintains a 'Hold' on Intuit (NASDAQ: INTU) price target raised from $50 to $56.
Analsyt, Richard Davis, said, "We have no qualms with Intuit's market position, management or execution. Our only reservation is INTU's high-teens multiple versus its likely revenue and EPS growth of 10% and 13% next year. This is not wildly overvalued, in our view, simply a level that seems likely to continue to produce stock price appreciation roughly in line with the stock market (YTD INTU is up 9% versus 13% on the NASDAQ). That said, for conservative or nervous investors, Intuit could be a safe port in a storm. For us, however, the fundamentals versus valuation do not get us to a Buy."
For an analyst ratings summary and ratings history on Intuit click here. For more ratings news on Intuit click here.
Shares of Intuit closed at $57.52 yesterday, with a 52 week range of $39.87-$58.90.
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Analsyt, Richard Davis, said, "We have no qualms with Intuit's market position, management or execution. Our only reservation is INTU's high-teens multiple versus its likely revenue and EPS growth of 10% and 13% next year. This is not wildly overvalued, in our view, simply a level that seems likely to continue to produce stock price appreciation roughly in line with the stock market (YTD INTU is up 9% versus 13% on the NASDAQ). That said, for conservative or nervous investors, Intuit could be a safe port in a storm. For us, however, the fundamentals versus valuation do not get us to a Buy."
For an analyst ratings summary and ratings history on Intuit click here. For more ratings news on Intuit click here.
Shares of Intuit closed at $57.52 yesterday, with a 52 week range of $39.87-$58.90.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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