Intuit Slides to $259.23 52-Week Low After Stifel Cuts Price Target to $275
INTU•Intuit shares plunged to a 52-week low of $259.23 after a 0.77% drop on rising generative AI disruption concerns. Stifel downgraded the stock to Hold and cut its price target to $275 from $375, citing expected reductions in near- to medium-term growth targets and a shift to value-based pricing.
1. Intuit Hits 52-Week Low
Intuit’s share price fell 0.77% to close at $259.23, marking a new 52-week low as investor concerns over potential disruptions from generative AI weighed on its core software segments.
2. Stifel Downgrade and Price Target Cut
Stifel downgraded Intuit to Hold from Buy and lowered its price target to $275 from $375, highlighting expectations that management will reduce near- to medium-term growth targets for TurboTax and Global Business Services.
3. Growth Outlook and Pricing Strategy
Alongside the downgrade, the firm noted Intuit has shifted to a value-based pricing strategy at the lower end of each segment, a move aimed at stemming share erosion but signaling potential pressure on future revenue growth.
