UPDATE: Citi Raises PT on Intuit to $63

Citi is out with its report today on Intuit (NASDAQ: INTU), raising its PT from $61 to $63.

In a note to clients, Citi writes, "We continue to recommend owning Intuit shares for the improving small business story. We believe both macro factors (employment, charge volumes) and company specific factors (customer growth and attach of services) can drive continued double-digit top-line growth. With volatile tax season behind the stock, we believe shares can outperform on small business momentum. We revised our price target slightly higher from $61 to $63 on the back of higher FY12 EPS."

Citi maintains Buy on INTU.

At the time of posting, shares of INTU were trading pre-market at $54.28, down 2.90% from Thursday's close.