Intuit price target raised to $615 from $575 at Wells Fargo

Wells Fargo raised the firm’s price target on Intuit to $615 from $575 and keeps an Overweight rating on the shares. The firm notes Q1 results were above its estimates, primarily on desktop, consumer plus CK, while FY24 guide was unchanged, consistent with historical. Wells expects shares to go mostly quiet until tax season where key debate around long-term growth lingers.