UPDATE: Citi Lowering Price Target On Intuit

Citi Investment Research is out with a research report on Intuit Inc. INTU and is lowering its price target to $53 from $63, and it has a Buy rating on shares. In a note to clients, Citi Investment Research writes, "Q4 Revenue of $593M was ahead of our $588M estimate and consensus of $583M. Strength was driven by Small Business Group (SBG) beating consensus estimates by $5M. EPS of $0.02 was in line with our $0.02 and ahead of consensus at $0.00." Shares of INTU lost $2.08 yesterday to close at $40.30.