Canaccord Genuity maintains a 'Hold' on Intuit (NASDAQ: INTU); Solid Early Read on Tax Season

February 22, 2012 8:58 AM EST
Get Alerts INTU Hot Sheet
Price: $116.09 -0.86%

Rating Summary:
    9 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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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.

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