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Fly News Breaks for June 21, 2017
ADBE
Jun 21, 2017 | 07:56 EDT
Baird analyst Rob Oliver raised his price target on Adobe to $160 from $140 following another solid beat and raise quarter. Although solid Q2 results were expected, the company's guidance for Q3 was raised ahead of consensus. The analyst sees further upside driven by Artificial Intelligence. Machine Learning, opportunity for cross-selling, rising ARPU, enterprise ETLA conversions, and the potential for price increases. Oliver reiterated his Outperform rating on Adobe shares.
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