Market Overview

UPDATE: Stifel Nicolaus Lowers PT to $37 on Adobe Systems Post In-Line Q3

Share:
Related ADBE
Benzinga's Top Initiations
The Market In 5 Minutes: Apple And Twitter And McDonald's, Oh My!
Adobe Systems 'In The Right Markets At The Right Time' (Investor's Business Daily)

Stifel Nicolaus reiterated its Buy rating on Adobe Systems (NASDAQ: ADBE) but reduced its price target from $38 to $37.

Stifel Nicolaus commented, "Since launching a subscription option in May with Creative Cloud and Creative Suite 6.0 ("CS6"), Adobe's professional customers have moved faster than expected to adopt the new pricing model. … However, as a result Creative revenue is now expected to be lower in FY13 and we are again adjusting our model down. … 4Q guidance of $1,075-$1,125 (vs consensus $1,205) reflects a ~$94mn headwind from higher subscriptions, which also pressures Non-GAAP EPS to $0.56-$0.61 vs our previous $0.65 (consensus $0.67)."

Adobe Systems closed at $33.12 on Wednesday.

Latest Ratings for ADBE

DateFirmActionFromTo
Jul 2016Piper JaffrayInitiates Coverage onOverweight
Jun 2016Cowen & CompanyInitiates Coverage onOutperform
Apr 2016Credit SuisseAssumesNeutral

View More Analyst Ratings for ADBE
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (ADBE)

View Comments and Join the Discussion!