Citi notes that the AP reported the Trump administration plans to eliminate the IRS’ Direct File program. The firm’s view has been that the program was less of a risk to Intuit (INTU) than widely feared and notes that its recent tax survey indicated largely stable share for TurboTax. However, it still believes this news should be a sentiment boost for Intuit and remove some tail risk from the tax business. Citi keeps a Buy rating and $726 price target on Intuit shares.
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