UPDATE: Credit Suisse Reiterates On Adobe Systems As Creative Cloud Rains Margins

In a report published Friday, Credit Suisse analyst Philip Winslow reiterated a Neutral rating on

, and raised the price target from $70.00 to $75.00. In the report, Credit Suisse noted, “Adobe reported Q4 results of revenue of $1.073 billion and EPS of $0.36 versus consensus revenue and EPS estimates of $1.063 billion and $0.30, respectively. The company reported operating margin of 22.4% versus consensus expectations of 19.4%. We maintain our Neutral rating and slightly raise our target price from $70 to $75.” Adobe Systems closed on Thursday at $69.74.