UPDATE: Bank of America Lowers PO to $63 on Intuit Post Disappointing Quarter
Bank of America lowers its price objective on Intuit (NASDAQ: INTU) from $65 to $63 and reiterates its Buy rating on shares.
Bank of America notes, "Intuit provides investors with a rare combination of Cloud + mobile opportunities and can be a potential beneficiary of HTML5 adoption longer term. With minimal EU exposure (~5%), Intuit continues to operate with a shareholder friendly mindset (dividend + share buyback). Our PO goes to $63 (from $65) based on our SOTP analysis."
INTU closed at $54.41 on Thursday.
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