Jefferies Raises Price Target on Intuit (INTU), Reaffirms Strengths & Outlook
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Price: $367.00 +1.42%
Rating Summary:
31 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
31 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies is reiterating its Buy rating on shares of Intuit (NASDAQ: INTU) and is raising its price target on the company from $53 to $55.
Management reaffirmed its previous guidance, which was not a surprise, but noted that catalysts in its guidance included tax results, legislation, availability and privacy of data, economic headwinds, health of SMBs and financial institutions, and Saas adoption.
The company also announced the transition to connected services and long-term growth opportunities in international, healthcare, and payment network markets. This will help drive their anticipation to grow revenue by the double digits, grow revenues faster than expenses, and deploy cash to the highest yield opportunities.
Jefferies currently estimates EPS of $2.90 and $3.27 for 2012 and 2013.
For more ratings news on Intuit click here and for the rating history of Intuit click here.
Shares of Intuit closed at $47.69 yesterday.
Management reaffirmed its previous guidance, which was not a surprise, but noted that catalysts in its guidance included tax results, legislation, availability and privacy of data, economic headwinds, health of SMBs and financial institutions, and Saas adoption.
The company also announced the transition to connected services and long-term growth opportunities in international, healthcare, and payment network markets. This will help drive their anticipation to grow revenue by the double digits, grow revenues faster than expenses, and deploy cash to the highest yield opportunities.
Jefferies currently estimates EPS of $2.90 and $3.27 for 2012 and 2013.
For more ratings news on Intuit click here and for the rating history of Intuit click here.
Shares of Intuit closed at $47.69 yesterday.
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