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

February 22, 2012 1:50 PM EST Send to a Friend
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Price: $82.85 +0.25%

Rating Summary:
    7 Buy, 9 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 23 | New: 13
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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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