Goldman Sachs Starts Intuit (INTU) at Neutral

Goldman Sachs resumes coverage on Intuit (NASDAQ: INTU) with a Neutral rating and $58 price target.

The firm said they only expect modest share appreciation over the next 12 months due to slightly moderating growth and "flattish" margins.

Goldman said while double-digit growth will be more challenging in the consumer tax segment, the company's other business are benefiting from a shift online. "We believe the benefits of Intuit’s shift to connected services are underappreciated by the Street and will drive significant returns long term," the analyst said.

For an analyst ratings summary and ratings history on Intuit click here. For more ratings news on Intuit click here.

Shares of Intuit closed at $52.92 yesterday.

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