Intuit price target raised to $560 from $485 at BMO Capital

BMO Capital analyst Daniel Jester raised the firm’s price target on Intuit to $560 from $485 but keeps an Outperform rating on the shares. The firm is reducing its Credit Karma estimates towards flattish growth in FY24 while cutting its EPS view to $15.85 from $16.11, though BMO also retains its favorable mid-term trajectory outlook for the stock, reflecting the steady performance in its small business segment, an accelerating opportunity in payments, an anticipated recovery in consumer tax, and a reasonably low bar to top for Mailchimp growth, the analyst tells investors in a research note.