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Fly News Breaks for June 15, 2018
ADBE
Jun 15, 2018 | 06:59 EDT
Stifel analyst Tom Roderick called Adobe's Q2 results "sterling" and said he did not expect the stock to be trading down for long despite the after-hours weakness that immediately followed its report. He attributes the after-hours weakness to either hopes for more aggressive Q3 guidance or a "sell the news" reaction, but he would "happily" be a buyer after a quarter like Adobe just reported, he tells investors. Roderick raised his price target on Adobe to $275 in the wake of the Q2 report and keeps a Buy rating on the shares.
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