Stifel lowers Intuit price target to $725, would be buyer on weakness

Stifel lowered the firm’s price target on Intuit (INTU) to $725 from $795 and keeps a Buy rating on the shares. The company delivered “solid” Q1 results, but the stock traded off by about 5% in after-hours as Q2 guidance was impacted by an acceleration in near-term Tax marketing spending and the decision to push some Tax promotional activity to Q3. The firm would be buyers on weakness as it does not expect a “DOGE” Tax app from the government anytime soon and believes the company should be a clear beneficiary from stronger economic growth, allowing Intuit to post durable double-digit growth over coming years.