Mizuho Sees Upside for Intuit Inc. (INTU) Ahead of Earnings, Maintains Bullish Stance

Intuit Inc. (NASDAQ:INTU) is among the most fantastic stocks every investor should pay attention to. Encouraged by the recent strong results from companies like Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), and LendingTree Inc. (NASDAQ:TREE), Mizuho Securities analyst Siti Panigrahi released an optimistic report on Intuit on October 31, ahead of the company’s results on November 20.

Mizuho Sees Upside for Intuit Inc. (INTU) Ahead of Earnings, Maintains Bullish Stance

Panigrahi argues that the cross-reads for Intuit’s Credit Karma business are significantly positive, given the strong new credit card account growth seen by the mentioned banks in Q3. Moreover, LendingTree’s personal loans and insurance segments thrived in the quarter, which also bodes well and could mean a revenue upside surprise is in the offing for Credit Karma. Panigrahi reaffirmed his Outperform rating on Intuit Inc. (NASDAQ:INTU) and a price target of $875, implying a 35% upside.

More recently, on November 3, analyst Steve Enders from Citi also reaffirmed his Buy rating on the stock with an unchanged price target of $803.

Meanwhile, the stock has been a relative underperformer this year with gains of just over 4% so far, amid substantial gains for the software sector and the broader market. That said, the consensus still shows a strong Buy sentiment and expects a 27% potential upside.

Intuit Inc. (NASDAQ:INTU) offers financial management and tax preparation platforms, including TurboTax, QuickBooks, Credit Karma, and Mailchimp.

While we acknowledge the risk and potential of INTU as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than INTU and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT:  13 Best Stocks to Buy According to Citadel LLC and Goldman Sachs Defense Stocks: Top 10 Stocks to Buy.

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