Intuit "hold"

08/27/03 - Prudential Financial

NEW YORK, August 27 (New Ratings) – Analyst Bryan C Keane of Prudential Financial reiterates his "hold" rating on Intuit Inc (INTU). The target price is set to $43.

In a research note published this morning, the analyst mentions that the basic principles of the IRS/Consortium agreement, published in the federal record "term sheet," are likely to remain unchanged. A matter of concern for Intuit is that some state governments are insisting on imparting tax preparation services of their own, the analyst adds. The analyst believes that Intuit and members of the Free File Alliance are seeking ways to enter into agreements with the state governments on the lines of the IRS contract.