Intuit price target raised to $875 from $730 at BofA

BofA analyst Brad Sills raised the firm’s price target on Intuit (INTU) to $875 from $730 and keeps a Buy rating on the shares. Intuit delivered a “strong Q3,” led by a solid tax season, balanced with strength across other lines of business, the analyst tells investors. This tax season indicates that TurboTax is pivoting successfully to the assisted category, which is likely to be a durable growth driver, the analyst says. Demand is resilient in the QuickBooks business, as the Business Solutions unit, which included QuickBooks, grew 19.4%, which “nicely exceeded” the firm’s estimate for 18%, the analyst added.