Barclays analyst Raimo Lenschow lowered the firm’s price target on Intuit to $465 from $490 and keeps an Overweight rating on the shares following the fiscal Q1 results. “While not all is rosy, Intuit is showing the benefit of having a diverse portfolio of assets,” Lenschow tells investors in a research note. Credit Karma is “declining meaningfully” due to the macro environment but on the bright side, the company’s other businesses are not seeing much of an impact and management commented that leading indicators remain stable for small business, says the analyst.
Published first on TheFly
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