UBS Maintains a 'Buy' on Intuit (INTU); Still Best Positioned vs Global Macro Fears

UBS maintains a 'Buy' on Intuit (NASDAQ: INTU) price target raised from $53 to $60.

UBS analyst says, "Anti-global macro thesis intact; more stock upside ahead: With >95% of revs from U.S. and a focus on small biz & tax filers, we believe INTU remains a relative safe haven shielded from the ongoing macro turbulence. Co fundamentals appear solid as U.S. economy is stable, QuickBooks 2012 had a good start, and mgmt reiterated guidance mid-qtr."

"Est changes: moving up from low-end to mid-pt of guidance range: FQ1 to/from: rev $580M/$575M, EPS -$0.12/-$0.13. FY12 (July) to/from vs. St./guide: rev $4,235M/$4,185M vs. $4,223M/$4,185-4,285M; EPS $2.90/2.85 vs. $2.89/2.85-2.94; assumes PF op mgn up 20bp y/y to 32.7%. INTU exceeded high end of initial EPS guidance range by 15 cents in FY10 and 8 cents in FY11."

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 $53.33 yesterday.

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