Analyst Bradley Sills from Bank of America Securities maintained a Buy rating on Intuit and keeping the price target at $800.00.
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Bradley Sills’s rating is based on several strategic initiatives and financial metrics that suggest strong potential for Intuit’s growth. The company’s mid-market and tax-assisted growth initiatives are gaining momentum, supported by a robust platform that is expected to expand margins by 80 basis points by FY26. Intuit’s stock is reasonably valued at 27 times the FY26 free cash flow, with expectations of a 16% growth in free cash flow, justifying the Buy rating and a price objective of $800.
Additionally, the upcoming launch of Intuit Connect is anticipated to drive cross-selling opportunities, particularly in the QuickBooks segment, which is targeting the mid-market. The TurboTax segment is also expected to maintain its momentum, with a focus on higher average revenue per customer through offerings like TurboTax Live and Full Service. The integration with CreditKarma is beginning to show results, contributing to revenue growth. These factors collectively underpin the positive outlook and Buy recommendation for Intuit’s stock.
In another report released today, Barclays also maintained a Buy rating on the stock with a $785.00 price target.