Wedbush Morgan Starts Intuit (INTU) at Buy
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Wedbush Morgan initiates coverage on Intuit (Nasdaq: INTU) with a Buy rating and $35 price target, saying Intuit's cycle-neutral and uncorrelated business units, combined with low expectations, make it a particularly timely investment.
The firm also noted:
- Consumer Tax maintaining online lead.
- Key to Small Business is formation, which excels during a slowdown.
- Operating leverage on its way back.
- Cheap non-SaaS business with free options on new verticals.
- Low expectations and product launches to serve as catalysts.
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