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Downgrade Alert for Intuit (INTU)

By David Diaz

Intuit (NASDAQ:INTU) was downgraded from Equal Weight to Underweight at Morgan Stanley today. The stock closed yesterday at $106.70 on volume of 2.1 million shares, above average daily volume of 1.2 million.

Intuit share prices have moved between a 52-week high of $116.97 and a 52-week low of $53.38 and closed yesterday at 100% above that low price at $106.70 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

Intuit (NASDAQ:INTU) is currently priced 1.7% above its average consensus analyst price target of $104.83. The stock should find initial support at its 50-day moving average (MA) of $101.52 and further support at its 200-day MA of $96.98.

Intuit Inc. develops and markets business and financial management software solutions for small and medium sized businesses, financial institutions, consumers, and accounting professionals The Company provides software for small business management and payroll processing, personal finance, and tax preparation and filing.

SmarTrend is tracking the current trend status for Intuit and will alert subscribers who have INTU in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Intuit

Ticker(s): INTU