Intuit price target raised to $750 from $642 at Piper Sandler

Piper Sandler raised the firm’s price target on Intuit to $750 from $642 and keeps an Overweight rating on the shares. Intuit’s Q2 revenues were in line with estimates, while margins were above, with performance driven by Small-Business and Self-Employed powered by online and Intuit’s solution of a connected/broader offering, the analyst tells investors in a research note. The firm doesn’t believe that Intuit’s multiple fully reflects an “AI premium,” partly because management hasn’t specifically quantified revenue/ margin benefits, though it has provided several benefits/applications across its product offerings.