Morgan Stanley Reaffirms Underweight Rating for Intuit (INTU)
Intuit (NASDAQ:INTU)‘s stock had its “underweight” rating restated by Morgan Stanley in a research note issued on Wednesday. They currently have a $66.00 price target on the stock, down from their previous price target of $72.00. Morgan Stanley’s target price indicates a potential downside of 22.71% from the company’s current price.
The analysts wrote, “We expect an in-line Q4 as focus shifts to guidance. For FY15, we believe management will provide a conservative initial view given model transitions in QB and rebuilding in Consumer Tax. QBO adoption should be a driver, but one we also see as priced in with the stock at 22x CY15eEPS.”
Shares of Intuit (NASDAQ:INTU) opened at 85.39 on Wednesday. Intuit has a 52 week low of $61.50 and a 52 week high of $85.58. The stock’s 50-day moving average is $81.88 and its 200-day moving average is $78.23. The company has a market cap of $24.241 billion and a price-to-earnings ratio of 27.26.
Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Intuit in a research note on Wednesday, May 28th. They now have a $84.00 price target on the stock, up previously from $77.00. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Intuit presently has a consensus rating of “Hold” and an average target price of $78.21.
Intuit Inc (NASDAQ:INTU) is a provider of business and financial management solutions for small businesses, consumers, accounting professionals and financial institutions.
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