Oppenheimer Maintains Perform Rating on Adobe Systems

According to Oppenheimer, Adobe Systems (NASDAQ: ADBE) Perform rating is maintained.

Oppenheimer said that despite a volatile macro environment and recent restructuring announcements (business model transition and expended focus on its digital media and digital marketing opportunities), ADBE delivered a strong 4Q11 across the board. “While we're pleased with the company's strong FY11 finish and believe management is taking the right strategic steps to remain a relevant tools vendor in a post Flash-centric world, given limited margin expansion on the horizon and elevated execution risks associated with its business model transition, we expect the shares to trade in line with peers.”

Adobe Systems closed yesterday at $26.46.