Jefferies lowered the firm’s price target on Intuit (INTU) to $500 from $550 and keeps a Buy rating on the shares. The firm sees a mixed setup for the shares into earnings. Expectations are low with the shares down 45% year-to-date, but consensus estimates for fiscal 2027 are still likely too high, the analyst tells investors in a research note. Jefferies believes concerns of AI disruption remain. However, it says Intuit’s business is more defensible than the majority thinks, creating room for the shares to recover.
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