Independent Equity Research

Kenneth Gannon

Valuation-driven, Process-Oriented Research for the Long-Term Investor

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INTUNASDAQ
Buy

Intuit Inc. (INTU) — Initiating Coverage

We initiate coverage of Intuit Inc. with a Buy rating and a blended price target of $360, representing approximately 12% upside from the September 11, 2026 closing price of $321.57. Our target is 70% weighted to a probability-weighted DCF (post 10% margin of safety = $368) and 30% to peer multiples ($339). Intuit's 40-year proprietary data moat, regulatory compliance infrastructure, and AI-native product roadmap make the current valuation an attractive entry point.

Target

$360

Current

$321.57

Upside

+12%

Information Technology

Initiating Coverage

Sep 12, 2026

DKSNYSE
Buy

Dick's Sporting Goods (DKS) — Coverage Update

We upgrade Dick's Sporting Goods from Hold to Buy and revise our price target to $161.00, representing 19.2% upside from the August 31, 2026 closing price of $135.09. The share price decline since our initiation has created a compelling entry point that now offers the margin of safety we previously lacked.

Target

$161

Current

$135.09

Upside

+19.2%

Consumer Discretionary

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Aug 31, 2026

KFYNYSE
Buy

Korn Ferry, Inc. — Initiating Coverage

We initiate coverage of Korn Ferry with a Buy rating and $99.00 price target (10% margin of safety applied to $110.02 probability-weighted DCF) representing 19.1% upside. KFY is not merely an executive search firm — it is the dominant platform for board and C-suite talent decisions, with 12 billion proprietary data points, an accelerating cross-referral flywheel, and a net-cash balance sheet approaching a meaningful capital return catalyst.

Target

$99

Current

$84.01

Upside

+19.1%

Industrials

Initiating Coverage

Aug 19, 2026