Intuit Inc. shares climbed Friday, a day after the company reported solid quarterly results, as an analyst said the maker of tax preparation software may benefit from consumers switching to its products from paid accountants in a tough economy.

UBS analyst Heather Bellini upgraded shares of Intuit to “Buy” from “Sell” and raised her target price to $24 from $21.

“While some might be concerned that consumer tax (unit) might see defections to free offerings, we actually see the potential this year for many who were previously using paid tax preparers to migrate to a do-it-yourself solution,” she wrote in a note to clients.

She added that the company’s consumer tax segment appears “much more resilient than the company’s other segments given that a bad economy does not alter the need to file tax returns.”

Intuit, which also makes a range of personal finance software, saw its shares rise $1.99, or 9.7 percent, to $22.60. That follows an uptick Thursday after the company posted better-than-expected earnings. Shares of Intuit have ranged from $20.24 to $32.16 over the past year.