Morgan Stanley Sees Continued Good Subscriptions for Adobe Systems

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

. In the report, Morgan Stanley noted, “Point solutions drove Q2 subs adds well above expects but also pressured ARPU and Creative ARR was inline. Shares likely trade higher on the subs beat, but the mix shift away from full Suites also raises questions around long-term ARPU and customer LTV.” Adobe Systems closed on Tuesday at $67.54.