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Fly News Breaks for June 22, 2016
ADBE
Jun 22, 2016 | 08:02 EDT
RBC Capital believes that Adobe reported "solid" Q2 results, driven by lower than expected operating spending and strong results from its Digital Media unit. The firm says that the company's lower than expected Q3 revenue guidance was driven by tough comps and revenue recognition patterns in its Digital Marketing unit. RBC says the guidance miss was relatively unimportant. The firm continues to be upbeat on the company's earnings power and keeps a $104 price target and Outperform rating on the shares.
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