Intuit price target raised to $600 from $530 at Evercore ISI

Evercore ISI analyst Kirk Materne raised the firm’s price target on Intuit (INTU) to $600 from $530 and keeps an Outperform rating on the shares. IT budgets are set to move higher and the firm believes the “platform” companies remain well positioned to take share, the analyst tells investors. The firm, which is introducing calendar year 2025 estimates, says its favorite names into calendar 2024 in mega-cap software include Microsoft (MSFT), Adobe (ADBE), Oracle (ORCL) and ServiceNow (NOW) as core “compounders.”