Jefferies Raises Price Target on Intuit (INTU), Expects Guidance Above Street Estimates
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Price: $57.90 -1.46%
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade INTU Now!
Today analysts at Jefferies maintained a Hold rating on Intuit (NASDAQ: INTU) and raised their price target to $59.00 (from $55.00).
"We expect INTU to report an in-line F4Q12 and for FY13 guidance to be broadly in-line with us (implies slight raise to Street sales ests)," said Ross MacMillan, an equity analyst at Jefferies.
"Our view on the stock is unchanged: we think consumer tax is showing signs of deceleration due to category growth/ competition, while the SMB segment is showing signs of potential acceleration with the transition to SaaS/ mobile, higher product attach and new offerings," added MacMillian.
The PT of $59 is based on the stock trading at 17X CY13 EPS at the end of CY12. This is just ahead of the 3 year average of 16X but below the 5 year average of 18X.
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 $59.62 yesterday, with a 52 week range of $39.87-$62.33.
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"We expect INTU to report an in-line F4Q12 and for FY13 guidance to be broadly in-line with us (implies slight raise to Street sales ests)," said Ross MacMillan, an equity analyst at Jefferies.
"Our view on the stock is unchanged: we think consumer tax is showing signs of deceleration due to category growth/ competition, while the SMB segment is showing signs of potential acceleration with the transition to SaaS/ mobile, higher product attach and new offerings," added MacMillian.
The PT of $59 is based on the stock trading at 17X CY13 EPS at the end of CY12. This is just ahead of the 3 year average of 16X but below the 5 year average of 18X.
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 $59.62 yesterday, with a 52 week range of $39.87-$62.33.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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