Intuit price target raised to $712 from $678 at Oppenheimer

Oppenheimer raised the firm’s price target on Intuit to $712 from $678 and keeps an Outperform rating on the shares. Intuit’s Q2 results exceeded guidance as total revenue, adjusted operating income, and EPS grew 11%, 17%, and 20% year over year, respectively, all exceeding consensus estimates, the analyst tells investors in a research note. Each segment’s FY24 revenue growth guidance was maintained, and the Small Business segment now appears particularly conservative, the firm argues.