Intuit (INTU) Shares Paring Gains as Stifel Can't Find Catalyst for Continued Growth

Shares of Intuit (Nasdaq: INTU) are giving up a portion of Wednesday's nearly 6 percent earnings-related gain Thursday as traders are considering a concerning note from Stifel Nicolaus' Tim Klasell. The stock last traded at $58.97, down 3.2 percent for the session.

The analyst this morning initiated coverage on Intuit with a Hold rating. Although Klasell believes Intuit is pushing in the right direction to grow with initiatives like payment processing, the analyst said "We cannot see a catalyst of significant-enough size to accelerate top-line growth and earn the company a higher multiple."

To track all the market-moving analyst comments on shares of Intuit, visit our Analyst Ratings page.

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