Intuit price target lowered to $810 from $870 at BMO Capital

BMO Capital analyst Daniel Jester lowered the firm’s price target on Intuit (INTU) to $810 from $870 but keeps an Outperform rating on the shares. The company started FY26 with good results, which were a bit better than expected in Credit Karma and in the QBO ecosystem, as QBO is benefiting from improved mix in accounting from the push into the middle-market and from strong growth in the payments offerings, the analyst tells investors in a research note. The firm adds however that it is lowering its valuation multiple to 31- to 32-times enterprise value to expected free cash flow on average to keep consistent with positioning at a small premium against the comp group.