RBC reiterates Outperform on Intuit (INTU) with $385 price target
What happened
RBC reiterated its Outperform rating on Intuit (INTU) with a $385 price target, according to Ground News reporting surfaced October 9. The affirmation comes with Intuit trading near $304 — roughly 27% below RBC's target — after shares rallied 2.71% Thursday to $303.88, their fourth consecutive daily gain. The target sits below the 31-firm consensus of $431.55 but well above current levels, and it marks the most bullish fresh analyst signal on INTU since the September guidance fallout.
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Who’s affected
- Intuit (INTU): directly — renewed Wall Street validation after a confidence-driven rebound. Peer SaaS: Autodesk (ADSK) rallied alongside (+10% this week) after the Schneider-PTC $22.6B deal prompted sector re-rating
- Microsoft (MSFT), Oracle (ORCL), Adobe (ADBE) trade on adjacent enterprise/software sentiment.