Scotiabank analyst Allan Verkhovski has elevated Intuit Inc. (INTU, Financial) from a "Sector Perform" to "Outperform" rating, adjusting the price target from $600 to $700. This change comes as the Internal Revenue Service's Direct File program appears likely to close, positioning Intuit to capitalize on the $35 billion assisted tax market.
Intuit has been intensively focused on leveraging local search, effective marketing strategies, and AI-enhanced Full Service solutions to revolutionize its customer experience. These initiatives are anticipated to drive Consumer revenue growth exceeding 8% in the fiscal year 2025.
The stock has shown robust performance since a downturn on February 18, making it the leading performer in Verkhovski’s coverage. The analyst expressed optimism, suggesting that this positive momentum is likely to continue, signaling promising prospects for Intuit shareholders.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 27 analysts, the average target price for Intuit Inc (INTU, Financial) is $705.38 with a high estimate of $860.00 and a low estimate of $530.00. The average target implies an upside of 19.95% from the current price of $588.08. More detailed estimate data can be found on the Intuit Inc (INTU) Forecast page.
Based on the consensus recommendation from 32 brokerage firms, Intuit Inc's (INTU, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Intuit Inc (INTU, Financial) in one year is $732.22, suggesting a upside of 24.51% from the current price of $588.08. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Intuit Inc (INTU) Summary page.
