Intuit "neutral"

15.06.07 - UBS

NEW YORK, June 15 (newratings.com) - Analysts at UBS maintain their "neutral" rating on Intuit Inc (INTU). The target price is set to $36.

In a research note published this morning, the analysts mention that the current CFO of the company, Kiran Patel, is taking over as the GM and SVP of the Turbo Tax unit. Inntuit?s consumer tax segment is expected to witness a challenging business environment in FY08, the analysts say. The company is also likely to announce a conservative guidance for FY08, which is unlikely to act as a catalyst for Intuit share price performance in the near term, UBS adds.