Bank of America Maintains Buy Rating and $58 PT on Intuit

A report from Bank of America reiterates its Buy rating and $58 price target on Intuit (NASDAQ: INTU).

The report states, “INTU, in our opinion, is one of the best positioned in our sector in the event of a recession and with minimal EU exposure. Intuit provides investors with a rare combination of Cloud + mobile opportunities with low penetration in end markets which can yield a long runway of growth. Intuit mgt team continues to operate with a shareholder friendly mindset (dividend + share buyback).”

INTU closed yesterday at $51.75.