On January 8, Wells Fargo downgraded Intuit Inc. (NASDAQ: INTU) to Equal Weight from Overweight, setting a price target of $700, reduced from $840. The firm stated that Intuit's impressive performance in the tax sector last year will be difficult to replicate heading into 2026. High investor expectations and tougher year-over-year comparisons create a challenging environment for the company's near-term growth, according to the analysis.
Earlier, TD Cowen analyst Jared Levine initiated coverage of Intuit with a Buy rating and a price target of $802. Levine anticipated the company would exceed consensus expectations and argued that perceived risks associated with AI are currently exaggerated. He suggested Intuit's double-digit total return model remains underappreciated by the market at current share prices.
Additionally, on January 6, Truist initiated coverage of Intuit with a Buy rating and a price target of $739. The firm highlighted Intuit's dominant market position and noted its extensive range of fintech products served through major brands, including TurboTax, Credit Karma, QuickBooks, and Mailchimp.
Intuit Inc. provides financial management, payments & capital, compliance, and marketing products and services in the United States.