• Intuit is trading 4.8% down at $279.80 today after Morgan Stanley downgraded the stock to Equalweight from Overweight and lowered its price target to $335 from $580.
  • Morgan Stanley cited uncertainty around the TurboTax business and the debate over AI disruption as key concerns.
  • The stock continues to face headwinds following its fiscal Q3 earnings report, a 17% workforce reduction, and ongoing legal challenges related to its TurboTax business.