Intuit (INTU): Morgan Stanley’s Optimism Stems from Emerging growth drivers, Attractive Valuation

Intuit Inc. (NASDAQ:INTU) is one of the Best Long-Term Tech Stocks to Buy According to Analysts. On January 21, Keith Weiss, an analyst from Morgan Stanley, maintained a “Buy” rating on the company’s stock. The associated price objective was $880.00. The analyst’s rating is backed by a combination of factors associated with Intuit Inc. (NASDAQ:INTU)’s emerging growth drivers and attractive valuation. According to the analyst, the company is early in 2 major product cycles: Mid-Market Accounting/Services and Assisted Tax. These operate in large, underpenetrated markets and have already showcased healthy initial traction.

Morgan Stanley Maintains Buy Rating on Intuit (INTU) Stock

The analyst’s analysis reflects that a credible path to ~20% annual revenue growth by FY 2030 is aided by a continued strong execution in rolling out these offerings. According to the analyst, this scenario is not being fully recognized by the market, considering Intuit Inc. (NASDAQ:INTU)’s stock’s current earnings multiple.

In a separate release, on January 12, BDO Canada LLP and Intuit Inc. (NASDAQ:INTU) announced a strategic partnership. This combines the innovative technology of Intuit’s platform with BDO advisors’ human insight.

Intuit Inc. (NASDAQ:INTU) offers financial management, payments, capital, compliance, and marketing products and services.

While we acknowledge the potential of INTU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than INTU and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.