Stifel analyst Brad Reback lowered the firm’s price target on Intuit to $690 from $720 and keeps a Buy rating on the shares. Intuit reported “solid” Q3 results, though 9% TurboTax growth represents less upside than anticipated, driven by share-loss with lower-end DIY customers, the analyst tells investors in a post-earnings note. The firm believes Intuit is well positioned to sustain low-double-digit top-line growth with an opportunity to accelerate towards the mid-teens over time, the analyst added.
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