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STOCK MARKETS

Software stock selloff overdone, Jefferies says

Jefferies says Intuit's stock selloff is overdone, with valuation at 2008 crisis levels. Buy rating maintained.

Henry Walker
ByHenry Walker- Senior Editor
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Software stock selloff overdone, Jefferies says
Photo: Prepared by Bond.az

The post-earnings decline in a major software stock has been excessive, Jefferies said Thursday.

Analyst Brent Thill noted that the TurboTax miss is only a quarter of Intuit's business, while the rest beat estimates.

Shares fell to levels not seen since 2008. Jefferies maintains a Buy rating with a target of $550.

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Software stock selloff overdone, Jefferies says | Bond.az