Jefferies Maintains a 'Hold' on Intuit (INTU); Lowering Consumer Tax Revs
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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 maintains a 'Hold' on Intuit (NASDAQ: INTU) price target lowered from $58 to $55.
Analyst, Ross MacMillan, said, "We have lowered our Consumer Tax rev growth forecast for FY12 to +9% Y/Y from +11% prev and are now slightly below the guidance range (10-13%). All unit data STD has pointed to growth deceleration and we think that without very favorable share/ price mix dynamics, INTU's guidance could prove challenging."
"For F3Q12 we are modeling rev/ NG EPS of $1.93B/ $2.44, which is -2% below consensus/ guidance (guide: $1.95-1.99B/ $2.47-2.51). For FY12 we are modeling revs/ NG EPS of $4.22B/ $2.91, which is in line with consensus on revs but -2%
below on NG EPS (we are in-line with the MP of rev guidance but toward the low end of the NG EPS guidance range). For FY13 we are modeling revs/ NG EPS of $4.61B/ $3.33, which is -1% below the Street."
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 $60.60 yesterday.
Analyst, Ross MacMillan, said, "We have lowered our Consumer Tax rev growth forecast for FY12 to +9% Y/Y from +11% prev and are now slightly below the guidance range (10-13%). All unit data STD has pointed to growth deceleration and we think that without very favorable share/ price mix dynamics, INTU's guidance could prove challenging."
"For F3Q12 we are modeling rev/ NG EPS of $1.93B/ $2.44, which is -2% below consensus/ guidance (guide: $1.95-1.99B/ $2.47-2.51). For FY12 we are modeling revs/ NG EPS of $4.22B/ $2.91, which is in line with consensus on revs but -2%
below on NG EPS (we are in-line with the MP of rev guidance but toward the low end of the NG EPS guidance range). For FY13 we are modeling revs/ NG EPS of $4.61B/ $3.33, which is -1% below the Street."
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 $60.60 yesterday.
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