Intuit price target raised to $680 from $620 at Morgan Stanley

Morgan Stanley analyst Keith Weiss raised the firm’s price target on Intuit to $680 from $620 and keeps an Overweight rating on the shares. Small Businesses are proving more durable than feared, as Intuit’s Small Business segment accelerated slightly to 18.3% year-over-year growth, notes the analyst, who calls management keeping FY24 targets unchanged in Q2 “true to form.” This sets Intuit up for significant EPS revisions in the second half of FY24, the analyst tells investors.