Intuit price target raised to $470 from $410 at JPMorgan

JPMorgan raised the firm’s price target on Intuit to $470 from $410 and keeps a Neutral rating on the shares. Heading into its Q1 earnings report post-market close on Tuesday, November 28th, the firm is constructive on Intuit’s pattern of solid execution in its stickier product lines and maintains its positive view of Intuit’s pace of innovation, including its thoughtful approach to infusing Generative AI with GenOS and Intuit Assist. JPMorgan’s analysis of web traffic data for Intuit’s product suite is directionally positive, on balance, for QuickBooks and Credit Karma, mixed for TurboTax, and directionally negative for Mailchimp.