Intuit downgraded to "neutral" - update

21.05.07 - UBS

NEW YORK, May 21 (newratings.com) - Analysts at UBS downgrade Intuit (INTU) from "buy" to "neutral." The target price is set to $36.

In a research note published this morning, the analysts mention that Intuit?s share price has appreciated recently. Intuit is likely to issue its revenue growth guidance for FY08 at 10%-13%, in view of its acquisition of Digital Insight, the analysts say. The guidance for FY08 is unlikely to act as a significant catalyst for the company?s share price in the near term, UBS adds.