Intuit price target lowered to $448 from $467 at BMO Capital

BMO Capital analyst Daniel Jester lowered the firm’s price target on Intuit to $448 from $467 but keeps an Outperform rating on the shares after its Q1 results. The analyst notes that a worse-than-expected topline hit from Credit Karma overshadowed otherwise "solid" Q1 metrics, also stating that the management went to great lengths to highlight the additional conservatism baked into the updated guide and their ability to defend earnings. Jester adds however that he doubts that investors will consider the numbers fully de-risked in the near-term, with a potential recession forthcoming.