(CercleFinance.com) – Jefferies reaffirms its ‘buy’ recommendation on Intuit with a price target raised from 760 to 770 dollars, seeking to be reassuring in the face of the 6% drop in the stock in after-market transactions, following the quarterly publication of the group.
The broker sees this decline as a ‘knee-jerk reaction’ to certain aspects, while a closer look shows ‘strong fundamentals’ for the accounting and tax software publisher.
Jefferies also notes that while Intuit accelerates its investments in certain areas, its management has made clear that the margin is expected to expand in 2024-25 and beyond, reallocating spending previously allocated to other areas.
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