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Fly News Breaks for August 11, 2015
ADBE
Aug 11, 2015 | 07:19 EDT
As noted earlier, RBC Capital upgraded Adobe to Outperform from Sector Perform. As reasons for the upgrade, the firm cited what it sees as the company's large CS6 conversion opportunity, overly high operating spending assumptions within consensus estimates, and the boost to ARPU from Adobe Stock and other services. The firm added that its checks show that Adobe's Creative Cloud is being well-received by the market. Target to $105 from $88.
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