Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Adobe Systems

Share:
Related ADBE
Lone Pine Capital Spelling Errors Put Automated Traders To The Test
Amazon, AIG And Facebook Lead Goldman's List Of EPS Growth Winners For Rest Of Year
Steve Mandel Buys Allergan, Baxalta, PayPal (GuruFocus)

In a report published Friday, Deutsche Bank reiterated its Buy rating on Adobe Systems (NASDAQ: ADBE), and raised its price target from $40.00 to $45.00.

Deutsche Bank noted, “Adobe reported revenue of $1.153b vs us/Street at $1.1b and EPS of $0.61, which was inline with us/Street at $0.61/$0.57. The quarter was impacted by $98m due to continuing shift to subscription/ratable revenue along with a $13.7m FX headwind. Making these adjustments, organic revenue would have been 8%, same as in 3Q12, but slightly lower than 14% in 4Q11. Recall that the company has been willingly reducing revenue of the LiveCycle business. The early adoption metrics of the Creative Cloud by individuals and teams are compelling. We are encouraged by the company's prospects to navigate through this transition. Reiterate Buy and $45PT (up from $40).”

Adobe Systems closed on Thursday at $35.53.

Latest Ratings for ADBE

DateFirmActionFromTo
Apr 2016Credit SuisseAssumesNeutral
Apr 2016Dougherty & CompanyMaintainsBuy
Mar 2016Canaccord GenuityInitiates Coverage onBuy

View More Analyst Ratings for ADBE
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings

 

Related Articles (ADBE)

View Comments and Join the Discussion!