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

February 22, 2012 8:58 AM EST Send to a Friend
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Price: $80.56 -1.72%

Rating Summary:
    7 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 43 | Down: 33 | New: 14
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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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