Brent Thill, an analyst from Jefferies, maintained the Buy rating on Intuit (INTU – Research Report). The associated price target is $800.00.
Brent Thill has given his Buy rating due to a combination of factors that suggest a positive outlook for Intuit in the second half of the fiscal year. Despite the stock’s underperformance year-to-date, Thill anticipates a better entry point following the second quarter earnings. This optimism is driven by expectations of improved conditions in the small and medium-sized business (SMB) segment, particularly as the challenges posed by Mailchimp begin to ease and SMB sentiment improves.
Additionally, Thill notes the potential for strong performance in Intuit’s consumer segment, especially with aggressive go-to-market strategies in the latter half of the year. The Credit Karma segment also shows promise, with strong growth in the first quarter and positive management commentary. Overall, Thill highlights Intuit’s resilient tax and SMB segments, robust operating margins, and attractive valuation as key reasons for maintaining a Buy rating.
In another report released on February 21, Citi also maintained a Buy rating on the stock with a $760.00 price target.