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Goldman Remains Buyers Of Adobe After Q3 (ADBE)

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Goldman Sachs remains buyers Adobe Systems Incorporated (NASDAQ: ADBE), after it reported Q3 results after the bell yesterday. It has a $39 price target and rates shares at a Buy.

In the research note, Goldman writes, "Despite the bearish tilt to investor sentiment and a more mixed print than we had expected, we remain buyers on (1) positioning for long-term secular rise in digital media, and removal of Flash overhang should continue the penetration into the global developer market, expanding the TAM for CS products..."

Share of ADBE closed the regular session at $32.94, but were hit hard after-hours, losing $5.37 to trade at $27.57.

Posted-In: Goldman SachsAnalyst Color Earnings News Price Target Analyst Ratings

 

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