UPDATE: Deutsche Bank Raises Target on Adobe Systems to $42
Deutsche Bank increases its price target on Buy-rated Adobe Systems (NASDAQ: ADBE) to $42 from $41 following the company's marketing summit.
Deutsche Bank says, "We attended this week's Adobe Marketing Summit, which had 4k attendees, 2x y/y increase. From conversations with partners and customers, our main takeaway is that Adobe is making great strides in assembling a comprehensive and well integrated marketing suite. As marketing budgets shift to more digital initiatives, we believe Adobe is well positioned. Also, today Photoshop CS6 was released for public beta and early reviews are very encouraging, corroborating our thesis of a strong 2H2012 product cycle."
ADBE closed at $33.71 a share on Thursday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.