Intuit price target lowered to $360 from $425 at Wells Fargo

Wells Fargo lowered the firm’s price target on Intuit (INTU) to $360 from $425 and keeps an Equal Weight rating on the shares. The firm says Q3 print left more to be desired, with lighter-than-expected TurboTax results and commentary around low-end impacts likely to keep Intuit in the “can’t disprove the AI disruption” penalty box for now. Wells sees minimal catalysts until September analyst day.