(News Bulletin 247) – Wells Fargo reaffirms its ‘overweight’ recommendation on Intuit with a price target raised from 475 to 525 dollars, adding the stock of this accounting software publisher to its ‘list of tactical ideas’ for the second quarter 2023.
“We believe the relative resilience of Intuit’s core segments is underestimated and note that it is one of the few software companies to have a catalyst in the first half,” he said. -he.
While the stock has underperformed since the start of the year (+15% against +17% for the Nasdaq), Wells Fargo sees room for a catch-up thanks in particular to the upcoming results focused on the tax segment ( publication of the BPA scheduled for the end of May).
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