Piper Jaffray maintained an Overweight rating on H&R Block (NYSE: HRB), and cut the price target to $42.00 (from $44.00), following the company's investor day. H&R Block's investor day boosted confidence around an accelerating revenue growth outlook at the company over the next several years, driven by a larger addressable tax market and company actions to improve market shares.

Analyst George Tong commented, "H&R Block's investor day in NYC on 12/8 increases our confidence in an accelerating revenue growth outlook. We sense market share gains in digital DIY, traction with new products, and an expanded addressable market will drive enhanced top-line performance. We also see room for higher share buybacks than our prior expectations. We reiterate our Overweight rating based on HRB's transformed business post-bank divestiture that results in a sharpened focus on tax and improved capital allocation."

For an analyst ratings summary and ratings history on H&R Block click here. For more ratings news on H&R Block click here.

Shares of H&R Block closed at $34.31 yesterday.