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Fly News Breaks for June 14, 2019
ADBE
Jun 14, 2019 | 08:11 EDT
Morgan Stanley analyst Keith Weiss noted that Adobe has posted "modest beats" in the last two quarters, but he thinks a "solid beat and raise" in its upcoming second quarter report can get the stock "back on track." His checks with partners point to healthy customer demand and Weiss sees stronger seasonality sustaining Annual Recurring Revenue of greater than 20% in Q2, he tells investors in an earnings preview note. Weiss has an Overweight rating on Adobe shares with a $340 price target.
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