Intuit "underweight," target price raised

20.11.06 - Prudential Financial

NEW YORK, November 20 (newratings.com) - Analyst Bryan C Keane of Prudential Financial maintains his "underweight" rating on Intuit Inc (INTU), while reducing his estimates for the company. The target price has been raised from $24 to $30.

In a research note published on November 17, the analyst mentions that the company has reported its F1Q07 revenues ahead of expectations, driven by robust growth at the QuickBooks segment. Despite a healthy revenue performance, Intuit has announced losses from continuing operations of $0.18 for the quarter. The EPS estimate for FY07 has been reduced from $1.18 to $1.17.