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.
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