Mizuho Calls AI Tax Filing Worries Overblown for Intuit (INTU)

Core Insights - Intuit Inc. (NASDAQ:INTU) is viewed positively by hedge funds, with Mizuho maintaining an Outperform rating and a price target of $875 despite recent share price declines due to AI disruption concerns [1] - Mizuho considers the fears regarding AI's impact on tax filing to be exaggerated, drawing parallels to earlier skepticism about OpenAI and ChatGPT, which was alleviated through Intuit's collaboration with OpenAI [2] Company Developments - Intuit has opened a new TurboTax flagship store in New York City's SoHo, expanding its physical presence from nearly 600 Expert Office locations to 20 TurboTax stores nationwide, enhancing the combination of digital tax filing and in-person expertise [3] - The company operates in four segments: Global Business Solutions, Consumer, Credit Karma, and ProTax, providing a range of financial management, payments, compliance, and marketing products and services in the US [4]