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Fly News Breaks for June 21, 2017
ADBE
Jun 21, 2017 | 09:08 EDT
BofA/Merrill Kash Rangan raised the price target on Adobe after the company reported stronger than expected Q2 results. The analyst thinks that the company's fiscal 2019 results will significantly exceed Street expectations. Rangan says that the company should benefit over the longer term from migrations to the cloud in Japan and Germany, stronger traction with its partners, and the growth of digital marketing. Rangan reiterates a Buy rating on the stock.