UPDATE: Goldman Sachs Maintains Neutral Rating, Lowers PT for Intuit
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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.