Intuit price target raised to $530 from $500 at BofA

BofA raised the firm’s price target on Intuit to $530 from $500 and keeps a Buy rating on the shares following “constructive” meetings with incoming CFO Sandeep Singh Aujla and Kim Watkins, the VP of Investor Relations. BofA sees Intuit as “an AI winner” in the core consumer tax and small business accounting markets, noting that Intuit commands a large, proprietary data set in both categories with an AI platform that was built four years ago. The firm also says it remains confident in the 8%-12% long-term growth target for Turbo Tax, citing its belief that the stimulus filings headwind is “in the past.”