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Fly News Breaks for May 22, 2018
ADBE
May 22, 2018 | 09:00 EDT
BMO Capital analyst Keith Bachman kept his Outperform rating and $260 price target on Adobe, noting that its purchase of Magento "makes strategic sense". The analyst says the company should leverage its marketing leadership "to include both transaction and post-sales consumer data" while ultimately moving into cloud post sales support. Bachman adds that the purchase price of 10-11-times Magento's 2017 revenue is not inexpensive, but the recent deals in this space have had similar multiples.
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