JP Morgan analyst Mark Murphy upgraded Intuit Inc (NASDAQ:INTU) from Neutral to Overweight and raised the price target from $640 to $660.
Murphy maintained his view of Intuit as a dependable, innovative, and scaled cloud platform that serves consumers, self-employed, small businesses, and mid-market customers while serving as a good steward of capital. The analyst noted stable-to-positive trending across Intuit’s core businesses.
Also Read: Intuit Sees AI-Driven Growth With TurboTax, Credit Karma: Analyst Raises Price Forecast
However, risks continue to arise from macro volatility, policy uncertainties, and other idiosyncratic and external variables.
Intuit stock has underperformed to such an extent that it trades below where it was ~3.5 years ago when the term “transitory inflation” was retired in November 2021.
It underperformed versus the S&P 500 by ~3,700 …
