Major Bank Ratings | TD Cowen: Significantly lowers Intuit’s target price to $304, rating downgraded to "Hold"

Glonghui, July 29｜TD Cowen has downgraded its rating on Intuit from “Buy” to “Hold” and sharply lowered the target price from $504 to $304. The recent catalyst trajectory leans more negative than positive, which will limit the stock’s rebound potential. TD Cowen pointed out that the upcoming fourth-quarter results face a tough test, and significant positive news is not expected at the September Investor Day. Meanwhile, there is ongoing market concern about AI-related risks and intensifying competition, creating multiple pressures at the same time.