In a report released today, Daniel Jester from BMO Capital maintained a Buy rating on Intuit (INTU – Research Report), with a price target of $714.00.
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Daniel Jester has given his Buy rating due to a combination of factors that highlight Intuit’s potential for growth and resilience. The company’s Consumer tax business has shown promising results, supported by growth in IRS filing data and positive competitor comments, suggesting potential for unit growth. Despite concerns about promotional activities, Intuit’s operational flexibility and the strong performance of Credit Karma are expected to support earnings growth for FY25.
Additionally, Intuit’s Global Business Solutions segment remains stable, with anticipated growth in the QuickBooks Online ecosystem and benefits from pricing in online accounting. The Credit Karma segment is also expected to continue its strong performance, driven by personal loan trends and contributions from CK Money. Intuit’s market-leading platforms, including TurboTax, QuickBooks, and Credit Karma, are poised for multi-year growth, and the recent market volatility presents an attractive opportunity for long-term investors.
In another report released yesterday, KeyBanc also reiterated a Buy rating on the stock with a $770.00 price target.