Stifel and Goldman Sachs have downgraded their ratings on Intuit. On June 18, Stifel cut Intuit from Buy to Hold and lowered its price target from $375 to $275, citing expectations of reduced near- to medium-term growth targets for TurboTax and GBS and a shift to value-based pricing to counter market share losses. Earlier, on June 2, Goldman Sachs downgraded Intuit from Neutral to Sell and slashed its price target from $519 to $276, pointing to growing competitive pressure in the tax business that could challenge the company's long-term financial targets. Despite these downgrades, Intuit holds a consensus Buy rating with a median 12-month price target of $446.50, implying a 62% upside from current levels.
Intuit IncStifel and Goldman Sachs downgraded Intuit ratings and slashed price targets due to growth concerns and competitive pressure.
Stifel Financial Corporation