RBC Capital lowered the firm’s price target on Intuit (INTU) to $500 from $600 and keeps an Outperform rating on the shares. The company reported mixed Q3 results, with total revenue, operating margin, and earnings topping estimates but TurboTax growth of 7% coming in below consensus of 9%, but revised FY26 TurboTax guidance raised renewed fears around AI automation displacing tax software, the analyst tells investors in a research note. Despite near-term uncertainty however, the firm continues to believe the AI opportunity set outweighs the risks longer-term, RBC stated.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on INTU:
- Intuit price target lowered to $400 from $540 at Evercore ISI
- Intuit: Buy Rating Reaffirmed as Restructuring, High-End Tax Services Support Long-Term Growth at Lower $412 Target
- Intuit price target lowered to $406 from $558 at Oppenheimer
- Intuit price target lowered to $360 from $440 at UBS
- Intuit price target lowered to $375 from $500 at Stifel