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UPDATE: Goldman Sachs Maintains Neutral Rating, Lowers PT for Intuit

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In a company update published earlier today, the Goldman Sachs Group, Inc. maintained its Neutral rating for Intuit Inc. (NASDAQ: INTU) and slightly lowered its price target from $61.00 to $60.00.

Goldman Sachs went on to say “The lackluster consumer tax unit performance illustrates to us that Intuit's growth from the “assisted” category is facing stiffer headwinds than what we anticipated. While some challenges are likely temporary given FY12 was the company's first year of aggressively going after this segment with “Free Live Tax Advice” and management has proven adept at execution, we believe questions regarding growth sustainability in consumer tax will linger until next year.”

Intuit Inc. closed yesterday at $54.41.

Latest Ratings for INTU

DateFirmActionFromTo
Apr 2016Credit SuisseInitiates Coverage onNeutral
Apr 2016Brean CapitalInitiates Coverage onBuy
Feb 2016RBC CapitalMaintainsSector Perform

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Posted-In: Goldman Sachs Group Inc.Analyst Color Price Target Reiteration Analyst Ratings

 

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