Intuit (INTU) Price Target Raised to $870 at BMO Capital on AI and Tax Tailwinds

BMO Capital raised its price target on Intuit (INTU, Financials) to $870 from $820 while reiterating an Outperform rating, citing momentum in its TurboTax business and gains from recent AI-driven restructuring.

The firm believes the proposed One Big Beautiful Bill Act could boost Intuit's consumer tax segment through favorable product mix and upselling opportunities. BMO pointed to Intuit's strong track record following major tax legislation, including the 2017 tax overhaul.

Intuit recently laid off about 600 employees, roughly 3% to 4% of its workforce, to streamline operations. Mizuho expects the move to improve operating margins as AI capabilities expand across Intuit's product lineup.

The company also acquired Relevvo, an AI-based sales and marketing platform, to strengthen its B2B offerings in the mid-market. CLSA initiated coverage with an Outperform rating and a $900 price target, citing Intuit's leadership in accounting software.