Oppenheimer Maintains Outperform, $19 Target on H&R Block

Oppenheimer reiterates its Outperform rating and $19 target price on H&R Block, Inc. (NYSE: HRB) on larger than expected dividend increase and a solid, well-communicated tax strategy.

Oppenheimer notes the company “surprised to the upside on the most highly anticipated data point of the event—an increase in its annual dividend from $0.60 to $0.80. Now a more cash rich, tax-focused corporation following the sale of non-core RSM McGladrey, HRB is appropriately focused on: 1)assisted tax prep; 2) digital tax prep; 3) customer service ("anywhere, anyway, anyhow"); and 4) financial products.”

HRB closed at $15.57 per share on Thursday.