Jefferies Maintains a 'Hold' on Intuit (INTU); Consumer Tax and Lower Opex Drives Upside
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Price: $59.64 -1.63%
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade INTU Now!
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, with a 52 week range of $39.87-$58.90.
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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, with a 52 week range of $39.87-$58.90.
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