Morgan Stanley analyst David Joseph this morning cut his rating on Intuit to compete charge from Overweight following last night.
Joseph is concerned about the company’s growth prospects. “With INTU continuing to execute well in low-growth markets all eyes have been on the company’s ability to leverage higher-risk initiatives to improve organic growth,” he writes. But he says visibility has been reduced by delays in the roll out of new products increased risk in the affiliate’s recent Digital Insight acquisition and management transition. “We would not expect relative outperformance until visibility improves,” he says.
Joseph says that while first quarter results as reported were a bit ahead of expectations he notes that the EPS upside came largely from higher interest income.
Despite the grade. Intuit today is up $1.21 or 4.1% at $30.47.
Morgan Stanley analyst David Joseph this morning cut his rating on Intuit (INTU) to Equal Weight from Overweight following the company’s fiscal first quarter earnings release measure night. Joseph is concerned about the company’s growth prospects. “With INTU continuing to execute come up in low-growth markets all eyes have been on the company’s ability to supplement […]-->| |
Tech Trader Daily is a blog on technology investing written from Palo Alto. California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news analysis and original reporting on events important to investors in software hardware the Internet telecommunications and related fields.
Eric joined Barron's as a feature writer in New York in 1988 after four years at the Dow Jones news wires. In 1995 he moved to California as the magazine's first reporter in Silicon Valley creating the Plugged In column. Eric left Barron's in 1998 to become executive editor of The Industry Standard. He rejoined Barron's in Palo Alto in late 2001. Eric also writes the weekly Tech Trader column in the print edition of Barron's. Criticisms comments and tips can be sent to: .
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