UPDATE: Deutsche Bank Raises PT on Intuit to $65 (INTU)

Deutsche Bank is out with its report today on Intuit INTU, raising its PT from $60 to $65. In a note to clients, Deutsche Bank writes, "Intuit is scheduled to report earnings on May 19 after market close. We are expecting revenue of $1.807b vs Street at $1.819b and guidance of $1.76-$1.83b. We are modeling EPS of $2.25 vs Street at $2.28 and guidance of $2.22-$2.30. With tax revenue collected in 3Q usually representing >30% of overall FY revenue, we believe that the 11% y/y growth in tax filings combined with continued pricing strength could put the company on track to exceed our 10.6% y/y FY11 growth. Reiterate Buy and raising PT to $65 from $60." Shares of INTU closed Monday at $54.30, down 1.90% from Friday's close.