KeyBanc analyst Alex Markgraff lowered the firm’s price target on Intuit (INTU) to $450 from $520 and keeps an Overweight rating on the shares. Intuit Q3 results were mixed, and the more important observation is the multi-part transition underway, the firm says. KeyBanc appreciates restructuring around a focused, flatter, and faster organization with a reallocation of resources to growth, but TurboTax DIY headwinds and a pricing evolution across TurboTax/QBO are focus points today.
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