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Intuit’s Target, Estimates Lowered at Jefferies; Consumer Tax Revenue Falling? (INTU)

Business and personal finance software maker Intuit Inc. ( INTU ) on Friday caught some bearish commentary from analysts at Jefferies & Co.

The firm maintained its "Hold" rating on INTU but lowered its price target from $58 to $55. That new target suggests a 9% downside to the stock's Thursday closing price of $60.60.

A Jefferies analyst commented, "We have lowered our Consumer Tax rev growth forecast for FY12 to +9% Y/Y from +11% prev and are now slightly below the guidance range (10-13%). All unit data STD has pointed to growth deceleration and we think that without very favorable share/ price mix dynamics, INTU's guidance could prove challenging."

Intuit shares were unchanged in premarket trading Friday.

The Bottom Line

Shares of Intuit ( INTU ) have a .99% dividend yield, based on last night's closing stock price of $60.60. The stock has technical support in the $55 price area. The stock is trading near all-time highs.

Intuit Inc. ( INTU ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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