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Fly News Breaks for July 17, 2019
ADBE
Jul 17, 2019 | 06:18 EDT
UBS analyst Jennifer Lowe kept her Buy rating and $330 price target on Adobe, saying that in spite of its revenue stream shifting to lower-margin Digital Experience channel from the higher margin Digital Media segment, she believes the company can sustain an operating profit and earnings growth of 20% or more. The analyst contends that the company's profit growth should support the current enterprise value to expected 2020 earnings multiple of 31-times and expects Adobe shares to continue moving higher.
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