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Fly News Breaks for August 23, 2019
INTU
Aug 23, 2019 | 06:32 EDT
Deutsche Bank analyst Michael Turrin raised his price target on Intuit to $315 and kept his Buy rating after its "solid" Q4 results and above-consensus FY20 guidance. The analyst notes that the outlook calls for small business segment growth of 12%-14% - above 9%-11% initial outlook last year. Turrin also states that the 9%-11% consumer segment growth outlook was maintained with the forecast made last year and suggests the management's "continued confidence" in Intuit's share gains and average revenue per user, or ARPU, expansion.
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