Intuit price target raised to $605 from $560 at BMO Capital

BMO Capital raised the firm’s price target on Intuit to $605 from $560 and keeps an Outperform rating on the shares after the company’s innovation session event. Intuit looks well-positioned to more aggressively leverage generative AI and machine learning, the analyst tells investors in a research note. Launching Intuit Assist can extend the company’s innovation trajectory, while using AI as a bridge between customers and tax and accounting experts is supportive of its “price for value” strategy and could help further unlock valuable segments of the company’s total addressable market around assisted offerings and in a broader Credit Karma, BMO added.