Intuit +1.9% as Goldman Sachs makes it Conviction Buy

|About: Intuit Inc. (INTU)|By:, SA News Editor

Intuit (NASDAQ:INTU) is up 1.9% today and inching just pennies away from a new 52-week high after Goldman Sachs added the stock to its Conviction Buy list for the Americas.

A strong tax season (the company's key quarter) brought a beat-and-raise last month, but with that in the rear-view mirror, Goldman's Jesse Hulsing is looking at the company's small-business segment for the second half.

Hulsing raised the firm's price target to $123 from $117, implying 13.4% upside.

“After further analysis of retention trends and country-by-country growth expectations, we are more confident in the company’s ability to accelerate net add growth and meet or exceed the mid-point of its 2 million–2.2 million FY17 subscriber guidance,” Hulsing writes.

Subscribe for full text news in your inbox