A quarter ago, I thought that Intuit (Nasdaq:INTU)
was underestimated and underappreciated by the Street. True, the
company was (and is) facing challenges in getting the consumer tax
business back to better growth and not all of the company's efforts to
diversify and grow the business had worked out to plan. But Intuit still
has a valuable business with strong market share that produces almost
annuity-like cash flow streams. While the shares have outperformed the
S&P 500 by about 10% since my last bullish call, I remain confident
that there's more to be gained from the company's strategic
readjustment.
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