Soleil Securities Raises Estimates for Intuit (NASDAQ:INTU)

Analysts at Soleil Securities maintained their “buy” rating for Intuit Inc. (NASDAQ: INTU), while raising their estimates for the company. The target price for INTU is set to $36.

Yesterday, Intuit reported a first-quarter loss of $99 million, or 21 cents a share versus $76 million, or 16 cents a share in the same period last year. Excluding special items, loss for the quarter was 10 cents a share. Revenues rose 2.5% to $493 million. Analysts polled by Thomson Reuters had estimated Intuit would post a loss of 16 cents a share, and $488 million in revenue.

The Firm said “we are raising our fy2010E estimate by $0.01 to $1.96 (high-end of guidance), and fy2011 by two cents to $2.27. Management expressed optimism on the call last evening that fundamentals ahead will track according to plan, and overcome previously anticipated ($0.02) dilution from the recent Mint.com acquisition.”

INTU declined 2.18% to $29.61 in the pre-market session.