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Intuit (NASDAQ:INTU) and SanDisk (NASDAQ:SNDK) are upgraded by Several Analysts

Intuit (NASDAQ:INTU) and SanDisk (NASDAQ:SNDK) are upgraded by Several Analysts

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Intuit (NASDAQ:INTU) and SanDisk (NASDAQ:SNDK) are upgraded by Several Analysts

Intuit INTU and SanDisk  SNDKNEW YORK – Intuit (NASDAQ:INTU) the company famous for their accounting and tax preparation software received a boost last week as Wedbush lifted their price target on the stock from $ 71 to $ 79.  They also issued an outperform rating on the company.

A number of firms have updated their guidance on Intuit recently including Merrill Lynch who raised their price target to $ 70 and analysts at Bank of America (NYSE:BAC) upgraded the company to neutral with a price target of $ 78, up from $ 69.  Of analysts following the company, two have issued a sell rating, ten have issued hold ratings, eight have buy ratings, and one has a strong buy rating for a consensus hold rating with a target price of $ 69.90.

Year-to-date, shares are up more than 18 percent, and they are currently trading at a 52-week high of $ 70.44.  The 52-week low for the stock is $ 55.54, and the stock’s 50-day moving average is $64.22 while the 200-day moving average is $62.69.  The company has a market cap of more than $19 billion and a price to earnings ratio of 24.62.

Meanwhile, SanDisk (NASDAQ:SNDK) was also upgraded last week as BMO Capital Markets upgraded from an underperform rating to market perform in a research note to investors.  BMO currently has a $ 70 price target on the company up from their previous price target of $ 40.

Analysts at Zacks reiterated an outperform rating on the stock, with a price target of $ 82; while Piper Jaffray raised their price target from $ 75 to $ 78 with an overweight rating on the stock earlier this month.  Finally, analysts at Susquehanna raised their price target from $ 77 to $ 80 with a positive rating.  Of the analysts following SanDisk, one has a sell rating, eight have issued hold ratings, twenty-two have buy ratings, and one has a strong buy rating on the company for an average buy rating and a consensus target price of $ 70.50 per share.

Shares of SanDisk were up for the week but closed down .56 percent on Friday at $ 69.02.  Year-to-date shares are almost 62 percent.

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Eric Kelso covers market updates and stock related news.

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