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JP Morgan Keeps 'Overweight' on Intuit

JP Morgan maintains its overweight rating on Intuit (INTU).

Analyst Adam Holt says the software maker recently closed the books on the second quarter, and he's confident the company will meet or exceed the 57 cents second quarter earnings per share estimate.

Holt expects continued strength in non-retail channel segments. He notes the stock is under pressure in recent weeks. He thinks investors have been overly cautious in selling the shares going into the company's seasonally strong tax quarters. Hold says the current controversy over the forced activation of TurboTax desktop software is largely overblown.

He says shares are considerably cheaper than other dominant consumer franchises such as Microsoft and Abobe.

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