Intuit Faces Growing Risks in TurboTax and QuickBooks: Morgan Stanley Analyst

Intuit Inc INTU stock is trading lower Wednesday after Morgan Stanley analyst Keith Weiss downgraded the stock from Overweight to Equal-Weight and lowered its price target from $750 to $685. Weiss noted that investors have historically been willing to pay a premium multiple for Intuit, given its lack of cyclicality and near-monopoly status in its key segments. The analyst said Intuit's revenue has become more volatile since the introduction of Credit Karma and Mailchimp. Furthermore, Weiss noted that the cu ...