Susquehanna sees ‘many reasons to like’ Intuit, starts with a Positive rating

As previously reported, Susquehanna analyst James Friedman initiated coverage of Intuit with a Positive rating and $700 price target. While seeing “many reasons to like Intuit’s vast fintech franchise,” the firm sees the active rollout of the company’s B2B Payments Platform introduced in October as “materially accretive to consensus estimates,” the analyst tells investors. The firm, which notes that over $2T of invoices and about $300B of payroll move in, out and through Intuit’s accounting and tax systems, but are not monetized by the company, calls the B2B Payments Platform “harvesting low-hanging fruit and among the largest opportunities in B2B.”