Revised Price Target Sparks Concerns for Intuit Stock
BMO Capital has lowered its price target on Intuit (INTU) to $714 from $760, raising concerns about the company's future growth prospects. The revision comes as tax season is set to begin, which typically drives revenue and profitability for Intuit. However, the analyst firm's updated estimate suggests a slower-than-expected increase in revenue.
- This revised price target highlights the ongoing uncertainty surrounding Intuit's ability to maintain its market share and adapt to changes in the tax preparation industry.
- Can Intuit's strong brand recognition and loyal customer base sustain the company's growth despite declining demand for manual tax filing services?