Intuit price target lowered to $525 from $575 at Jefferies

Jefferies analyst Brent Thill lowered the firm’s price target on Intuit to $525 from $575 and keeps a Buy rating on the shares post the fiscal Q1 results. Intuit cut Credit Karma guidance as expected, though by a greater than expected magnitude, as the company assumes further deterioration from the macro environment, Thill tells investors in a research note. The analyst says Intuit "remains a high quality, defensive franchise, though not entirely immune to macro headwinds."