Thesis
Through their flagship products such as TurboTax and QuickBooks, Intuit (INTU) has been the dominant accounting and tax preparation software providers in United States. Xero (OTCMKTS: XROLF), on the other hand, started out in New Zealand and Australia as a small business accounting software provider in 2008 and expanded into United States in 2011.
We see Intuit as a growth stock. However, as the company expects to grow slower in the next 12 months, entering the emerging market could provide a reasonable way to unlock growth opportunity. This is why we believe