Intuit "overweight," estimates raised

23.08.07 - Lehman Brothers

NEW YORK, August 23 (newratings.com) - Analyst Vikram Churamani of Lehman Brothers maintains his "overweight" rating on Intuit Inc (INTU), while raising his estimates for the company. The target price is set to $38.

In a research note published this morning, the analyst mentions that the company has posted robust results for 4Q, with revenues and EPS ahead of the estimates and the consensus. Intuit has issued its TurboTax growth guidance for FY08 at 8%-12%, in-line with the estimates. The analyst believes that the concerns surrounding the acquisition of DI would ease in the forthcoming months. The EPS estimate for 2007 has been raised from $1.40 to $1.43.