BofA lowered the firm’s price target on Intuit (INTU) to $800 from $875 and keeps a Buy rating on the shares. While the firm notes there is no change to its positive view on Intuit following Q4 results, it cites multiple compression across the group for its lowered target. The company’s “bullish tone” backing the 15%-20% long term TurboTax live business on a much bigger base suggests that an upward revision to the long term tax growth target of 6%-10% “could be coming soon,” the analyst added.
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