Bank of America Sees Stock Weakness on Adobe Systems as Investment Opportunity

In a report published Wednesday, Bank of America analyst Kash Rangan reiterated a Buy rating and $80.00 price target on

. In the report, Bank of America noted, “ADBE is the lingua franca of web designers. It is leveraging its brand ubiquity -- Acrobat, Creative Suite and Digital Marketing to sell technologies for design, production and marketing of digital media on the web. Strong user loyalty and product upgrades position ADBE well to command a large share in its end markets. We have high confidence in Adobe's ability to ramp its recurring revenues as it grows its Creative Cloud user base and subscription rev s in Dig Marketing and other businesses.” Adobe Systems closed on Tuesday at $70.73.