Morgan Stanley Has Equal-weight on Intuit

Morgan Stanley reiterated an equal-weight rating on tax preparation software maker Intuit (Nasdaq: INTU) today as the company released the online version of Turbo Tax 2011. The desktop version was released last week.

“We expect INTU to execute well in the 2012 season with an increased focus on taking share from tax stores. We expect Consumer Tax rev. to at least meet guid. of 11-13% growth for FY12, with share and mix gains the key levers INTU has for driving rev towards the high end, and will get an update on the season's progress on the Jan-Q call,” Morgan Stanley said in a research note.