Deutsche Bank Downgrades Intuit to "Hold" (INTU)

Deutsche Bank Downgrades Intuit to “Hold” (INTU)

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Deutsche Bank reported on Wednesday that it has reduced its rating on financial software maker, Intuit Inc. (INTU).

The firm has downgraded INTU from a “Buy” to a “Hold,” and has maintained its $65 price target. This price target suggests a 12% upside from the stock’s current price of $57.40.

An analyst from the firm noted, “while we like Intuit’s long-term standing as a leader in do-it-yourself tax preparation software and emerging leader status within small business software, we are cautious on the absence of near-term visible catalysts,” said analyst Nandan Amladi. “Within the tax business, while Intuit continues to maintain ~60% share, our main concern is how fast this business can grow in the next year.”

Intuit shares were down 50 cents, or -0.87% during Wednesday morning trading. The stock is down -4% YTD.

The Bottom Line
Shares of Intuit Inc. (INTU) have a 1.19% yield, based on Wednesday morning’s price of $57.20.

Intuit Inc. (INTU) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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