Canaccord Genuity maintains a 'Hold' on Intuit (NASDAQ: INTU); Solid Early Read on Tax Season
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Price: $358.29 +7.04%
Rating Summary:
31 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
Rating Summary:
31 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
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Canaccord Genuity maintains a 'Hold' on Intuit (NASDAQ: INTU) price target raised from $50 to $56.
Analsyt, Richard Davis, said, "We have no qualms with Intuit's market position, management or execution. Our only reservation is INTU's high-teens multiple versus its likely revenue and EPS growth of 10% and 13% next year. This is not wildly overvalued, in our view, simply a level that seems likely to continue to produce stock price appreciation roughly in line with the stock market (YTD INTU is up 9% versus 13% on the NASDAQ). That said, for conservative or nervous investors, Intuit could be a safe port in a storm. For us, however, the fundamentals versus valuation do not get us to a Buy."
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 $57.52 yesterday.
Analsyt, Richard Davis, said, "We have no qualms with Intuit's market position, management or execution. Our only reservation is INTU's high-teens multiple versus its likely revenue and EPS growth of 10% and 13% next year. This is not wildly overvalued, in our view, simply a level that seems likely to continue to produce stock price appreciation roughly in line with the stock market (YTD INTU is up 9% versus 13% on the NASDAQ). That said, for conservative or nervous investors, Intuit could be a safe port in a storm. For us, however, the fundamentals versus valuation do not get us to a Buy."
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 $57.52 yesterday.
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