BUZZ-Intuit rises on upbeat Q2 revenue growth forecast

Reuters
Nov 21
BUZZ-Intuit rises on upbeat <a href="https://laohu8.com/S/QTWO">Q2</a> revenue growth forecast

** Shares of fintech firm Intuit INTU.O rise 5.3% to $671.19

** Forecasts Q2 revenue growth above estimates on strong demand for its AI-powered financial management tools

** Sees revenue growth of about 14% to 15% for Q2, above analysts' average estimate of 12.8% growth, according to data compiled by LSEG

** Q1 revenue also beat analysts' estimates

** On Tuesday, Intuit signed a multi-year deal worth more than $100 mln with OpenAI to use the ChatGPT maker's AI models to power the company's AI agents.

** Morgan Stanley says remain convinced in upside to FY26 guides, while also keeping an eye on OpenAI partnership

** "Intuit is among the most well-positioned in our coverage to weather any macro-induced storm," - Wells Fargo

** J.P. Morgan says, "we see stable-to-positive trending across Intuit's core businesses" while maintaining that ongoing risks remain due to macro volatility

** 26 of 33 brokerages rate the stock "buy" or higher, 6 "hold" and 1 "sell"; their median PT is $822.5

** Including session's move, INTU up 7.4% YTD

(Reporting by Utkarsh Tushar Hathi)

((utkarshtushar.hathi@thomsonreuters.com))

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