Goldman Sachs Maintains Sell Rating and $24 PT on Adobe Systems
A report from Goldman Sachs reiterates its Sell rating and $24 price target on Adobe Systems (NASDAQ: ADBE).
The report states, “We attended Adobe's analyst day yesterday in New York. Company management provided an overview of its new corporate strategy. As a result of the strategy and model change, Adobe offered additional color on the company's FY2012 guidance, calling for top-line growth of 4-6% and flat margins yoy, which the company issued on Tuesday after the market close."
ADBE closed yesterday at $28.08.
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