Morgan Stanley Sees Mixed Factors for Adobe Systems
In a report published Wednesday, Morgan Stanley analyst Jennifer Swanson Lowe reiterated an Equal-Weight rating on Adobe Systems (NASDAQ: ADBE).
In the report, Morgan Stanley noted, “ADBE Q1 results were generally solid as ongoing outperformance in Creative Cloud was partially offset by slower Marketing Cloud growth. Business momentum remains strong overall as ADBE now expects to meet or exceed FY14 targets, but we also see a lot of this strength as priced in at $68, or 16x FY18 EPS.”
Adobe Systems closed on Tuesday at $68.52.
Latest Ratings for ADBE
|Aug 2016||Stephens & Co.||Initiates Coverage on||Overweight|
|Jul 2016||Piper Jaffray||Initiates Coverage on||Overweight|
|Jun 2016||Cowen & Company||Initiates Coverage on||Outperform|
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