Citi raised the firm’s price target on Intapp to $63 from $52 and keeps a Buy rating on the shares. The firm updated models and preference rankings across the back office software group post the Q2 results, seeing potential for “underappreciated SMID-cap software names to re-rate amid a more risk-on rate cut cycle with stability in IT budget spend and emerging AI opportunities.” Citi’s new top picks are Pegasystems (PEGA), Intapp (INTA), and Workiva (WK) with Intuit (INTU) its favorite large-cap name.
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