Intuit: Jefferies raises target price

(CercleFinance.com) - Jefferies has reaffirmed its 'buy' recommendation on Intuit shares, having raised its target price for them from $760 to $770, in a reassuring response to the 6% drop in the share price in after-market trading following the company's quarterly results.


The broker sees this drop as a 'knee-jerk reaction' to certain aspects, whereas a closer look shows 'solid fundamentals' for the accounting and tax software company.

Jefferies also notes that while Intuit is accelerating its investments in certain areas, its management has made it clear that margin should expand in 2024-25 and beyond, by reallocating spending previously earmarked for other areas.


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