Intuit price target lowered to $480 from $580 at Argus

Argus lowered the firm’s price target on Intuit (INTU) to $480 from $580 but keeps a Buy rating on the shares. The firm cites the stock having declined after the company lowered its TurboTax revenue forecast despite beating on sales and EPS for the quarter. The company also continues to push back against concerns that its solutions could be replaced by AI agents, citing the tight customer integration, ease-of-use, scalability, and security of core products such as QuickBooks, the analyst tells investors in a research note.