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Fly News Breaks for October 4, 2018
INTU
Oct 4, 2018 | 08:15 EDT
Argus analyst Jim Kelleher raised his price target on Intuit to $265 and kept his Buy rating following the company's recent investor day. The analyst says that its strategy around One Intuit Ecosystem should complement his expected "rise of the entrepreneurial economy to drive growth in accounting & tax products for small businesses and the self-employed". Kelleher also anticipates the TurboTax software to evolve into an "integrated consumer financial planning platforms", anticipating Intuit to benefit from these trends. The analyst further notes that the investor event saw the company affirm its Q1 and FY19 guidance, suggesting expectations of "continued strong growth".
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