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Fly News Breaks for December 14, 2018
ADBE
Dec 14, 2018 | 06:43 EDT
KeyBanc analyst Brent Bracelin maintained an Overweight rating on Adobe but lowered his price target to $282 from $286 following last night's Q4 results. In a research note to investors, Bracelin says he was "impressed" by the strong free cash flow profile of Marketo that exceeded $1B for the first time in a given quarter, but lowered his FY19 EPS estimate by 5c and free cash flow estimate by $307M as the company invests in two acquisitions that could temporarily pressure the operating margins for 1H19 on purchase accounting.
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