Citi Maintains Buy on Adobe Systems (ADBE)
Citi is out with its report today on Adobe Systems (NASDAQ: ADBE), maintaining Buy.
In a note to clients, Citi writes, "We rate the shares of Adobe Systems Buy / Medium Risk (1M). Our rating is based on our belief that the company will realize significant sales growth from its upcoming Creative Suite 5 product cycle. The company is highly leveraged to economic growth and we anticipate that CS5 will benefit from pent up demand generated by delayed IT purchases and typical 'every other cycle' upgrade behavior commonly seen in Adobe's customer base."
Citi maintains a $42 PT on ADBE.
Shares of ADBE closed Friday at $34.15, down 0.96% from Thursday's close.
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