Intuit initiated with a Buy at Truist

Truist initiated coverage of Intuit (INTU) with a Buy rating and $739 price target Intuit maintains a dominant market position, providing tangential financial technology products to consumers and SMBs across its TurboTax, Credit Karma, QuickBooks, and Mailchimp brands, the analyst tells investors in a research note. Intuit’s suite is increasingly shifting towards cloud-based, subscription and fintech services, supporting strong recurring revenue and margin expansion, Truist says.