Deutsche Bank Upgrades Intuit (INTU) to Buy

Deutsche Bank upgraded Intuit (NASDAQ: INTU) from Hold to Buy with a price target of $120.00 (from $100.00). Analyst Nandan Amladi thinks QBO momentum will continue.

"Intuit reports F4Q15 results on Aug 20 and will host its annual analyst day on September 18 at the company's HQ in Mountain View, CA. While recent quarters have focused on the QBO transition, we believe investor interest has now moved to how much upside INTU can generate over the next two years. We estimate INTU can overachieve the 2m subs target in Fiscal 2017 by over 10%, with up to $0.25 in EPS upside at the current growth momentum. A bit less competition from Xero recently and TAM expansion from INTU's early entry into the "sharing economy" have boosted our confidence," said Amladi.

For an analyst ratings summary and ratings history on Intuit click here. For more ratings news on Intuit click here.

Shares of Intuit closed at $105.72 yesterday.

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