Intuit Under-performance Has Stemmed From Valuation Reset, Analyst Upgrades Stock

1. JP Morgan upgraded INTU from Neutral to Overweight with a $660 price target. 2. Analyst emphasizes Intuit's stability and innovation amid macroeconomic risks. 3. INTU stock has underperformed, recently trailing the S&P 500 by 3,700 bps. 4. Concerns include market share loss in TurboTax and Credit Karma's growth reset. 5. Projected Q3 revenue is $7.51 billion, with adjusted EPS at $10.92.