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Guggenheim Securities initiates coverage of Intuit

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Guggenheim Securities initiates coverage of Intuit

Guggenheim Securities analyst Ken Wong is now covering Intuit Inc.'s stock. He gave it a "buy" rating and set the price target at $250.

The analyst introduced EPS estimates at $5.57 for 2018 and $6.55 for 2019.

Wong wrote that Intuit can continue to expand its total addressable market across both its consumer tax and small-business franchises. Regarding Intuit's TurboTax Live, which offers help to its clients from a tax expert, the analyst wrote that it has the potential to succeed where past efforts have failed in taking share from tax stores and accountants.