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January 18, 2007
It's Tax Season. Time To Buy Or Sell Intuit?
Citigroup raised its rating on Intuit to a Buy from a Hold and set a $36 price target on INTU. Their logic:
Intuit's stock has been weak on concern about recent announcements of acquisitions. But acquisitions of Digital Insight, an online banking services company, and Electronic Clearing House, which does payroll and payments, could improve revenue guidance to 15% in fiscal ‘07.
Also, tax season is here - basic reasoning. Seasonal trade as stock has returned about 20% from February to July over past 2 years.
Posted by Paul at January 18, 2007 07:28 PM
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