Intuit (INTU) PT Raised to $850 at Stifel

Stifel analyst Brad Reback raised the price target on Intuit (NASDAQ: INTU) to $850.00 (from $725.00) while maintaining a Buy rating.

The analyst comments "Intuit delivered strong results across the board that sent the stock up ~8% AH as the company's move upmarket gains steam. Consumer Tax grew a better than expected 11% as TurboTaxLive grew 47% and within GBS' 19% growth, IES/QBOA gained 40% Y/Y. Management also highlighted a slate of upcoming Agentic offerings with the QB business that we believe should help drive further ARPU gains and increase customer retention. The lone issue remains Mailchimp as management continues to work through execution challenges. That said, the online-services segment continues to post strong results powered by the Money platform and Payroll. Overall, we believe results point to momentum in share gains across the assisted tax category that we expect to continue for the foreseeable future, as well as resiliency within the GBS segment (ex. Mailchimp), that we believe should enable the company to sustain near-term lowteens total revenue growth over the coming years."

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