Intuit price target raised to $640 from $605 at BMO Capital

BMO Capital raised the firm’s price target on Intuit to $640 from $605 and keeps an Outperform rating on the shares. The company delivered a solid start to the fiscal year with top and bottom-line upside in Q1, the analyst tells investors in a research note. Against an uneven backdrop, the company continues to have ample levers with favorable mix, supportive pricing actions across multiple parts of the portfolio, and several vectors of AI opportunity to drive upside, BMO added. Intuit’s three market-leading platforms – TurboTax, QuickBooks, and Credit Karma – should collectively compound growth in the mid-teens on a multi-year basis, BMO states.