Wells Fargo Starts Intuit (INTU) at Market Perform
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Price: $58.76 --0%
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 13
Rating Summary:
5 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 6 | New: 13
Trade INTU Now!
Wells Fargo ressumes coverage on Intuit (NASDAQ: INTU) with a Market Perform and $60-$62 valuation range.
The firm comments, "We are resuming coverage of INTU with a Market Perform rating due to a valuation we believe accurately discounts the attractive growth, margin and capital allocation profile of the company. Although we hold a favorable view of the company's long-term prospects, we believe near-term share price appreciation may be limited. We believe INTU possesses a variety of assets and business platforms that position the company to be a premier provider of integrated solutions and services for small businesses and individuals."
FY2013/2014 revenue/EPS estimates are $4.6B/$3.35 and $5.0B/$3.75, implying EPS growth of 14%/12%.
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 $62.16 yesterday, with a 52 week range of $53.36-$62.86.
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The firm comments, "We are resuming coverage of INTU with a Market Perform rating due to a valuation we believe accurately discounts the attractive growth, margin and capital allocation profile of the company. Although we hold a favorable view of the company's long-term prospects, we believe near-term share price appreciation may be limited. We believe INTU possesses a variety of assets and business platforms that position the company to be a premier provider of integrated solutions and services for small businesses and individuals."
FY2013/2014 revenue/EPS estimates are $4.6B/$3.35 and $5.0B/$3.75, implying EPS growth of 14%/12%.
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 $62.16 yesterday, with a 52 week range of $53.36-$62.86.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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