Jefferies Raises PT To On INTU To $64

Jefferies has raised its price target on Intuit INTU from $59 to $64 and is reiterating its Buy rating on the stock ahead of the company's F3Q11 report, to be released on Thursday. Says Jefferies, in the report, “We reiterate our Buy rating ahead of INTU's F3Q11 report on 5/19. We are expecting a slightly better result given a strong finish to the FY11 consumer tax season and we are optimistic on SMB given improving growth in F1H11. Overall, we continue to like INTU given double-digit organic rev growth, an increased focus on connected services, and prospects for better op margin over time.” INTU closed at $54.30 yesterday.