Jefferies Maintains a 'Hold' on Intuit (INTU); Consumer Tax and Lower Opex Drives Upside

February 22, 2012 1:50 PM EST
Get Alerts INTU Hot Sheet
Price: $108.45 +0.51%

Rating Summary:
    9 Buy, 10 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Jefferies maintains a 'Hold' on Intuit (NASDAQ: INTU) price target raised from $55 to $58.

Jefferies analyst says, "We remain a Hold on INTU because, despite signs of improving conditions for the SMB business and solid margin expansion, we think Consumer Tax faces the challenge of a smaller shift from manual, no price changes, flat aggregate returns and more aggressive competition. Consumer Tax unit growth of +10% STD through 2/18/12 was a bit lower than we expected given the comps and unit growth needs to be maintained, despite tougher comps through season end."

Jefferies raises FY13 EPS estimate from $3.30 to $3.34 and FY14 from $3.66 to $3.76.

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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