Morgan Stanley Looks to Sustain Subs Trend for Adobe Systems

In a report published Monday, Morgan Stanley analyst Jennifer Swanson Lowe reiterated an Equal-Weight rating on

. In the report, Morgan Stanley noted, “ADBE subs adds accelerated throughout FY13 with particularly big upside surprises in Q3 and Q4, and investors widely expect Q1 adds to be robust as well. Checks suggest subs adoption remained healthy and we see upside to our Q1 subs add est. of 387K, but we also view this upside as widely expected given recent strength.” Adobe Systems closed on Friday at $67.19.