Intuit Faces Growing Risks in TurboTax and QuickBooks: Morgan Stanley Analyst
Portfolio Pulse from Anusuya Lahiri
Morgan Stanley analyst Keith Weiss downgraded Intuit Inc (NASDAQ:INTU) from Overweight to Equal-Weight and lowered its price target from $750 to $685, citing increased risks and volatility in its key segments TurboTax, QuickBooks, Credit Karma, and Mailchimp. The stock is trading lower by 1.39% at $635.53.
August 14, 2024 | 4:46 pm
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Morgan Stanley downgraded Intuit from Overweight to Equal-Weight and reduced its price target from $750 to $685 due to increased risks and volatility in TurboTax, QuickBooks, Credit Karma, and Mailchimp. The stock is trading lower by 1.39% at $635.53.
The downgrade and reduced price target by a major analyst like Morgan Stanley, citing increased risks and volatility in key segments, is likely to negatively impact Intuit's stock price in the short term. The stock is already trading lower by 1.39%, reflecting investor concerns.
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