Market Overview

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

Share:
Related ADBE
Wall Street Weighs In On Adobe's Mixed Earnings Report
15 Biggest Mid-Day Losers For Wednesday
The Vetr community has upgraded $ADBE to 3-Stars. (Vetr)

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
Sep 2017JefferiesMaintainsBuy
Sep 2017Canaccord GenuityMaintainsBuy
Sep 2017Moffett NathansonInitiates 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!
Loading...
Loading...