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Fly News Breaks for March 12, 2018
HRB, INTU
Mar 12, 2018 | 07:51 EDT
Credit Suisse analyst Michael Nemeroff raised his price target on Intuit (INTU) to $195 from $185 and maintained an Outperform rating. In a research note to investors, the analyst said recent results at H&R Block (HRB) indicating "strong" growth in do-it-yourself e-filings bode well for "DIY leader" Intuit. H&R Block said DIY e-filings were up 6.2% year over year through February 23rd vs. IRS growth of 2.4% int he same period, suggesting that H&R Block is performing well this year in DIY, which he views as a positive read-across for Intuit. He also noted that while H&R Block's 6.2% DIY growth appears impressive, "it's growing off a much smaller base" than Intuit.
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