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Fly News Breaks for September 18, 2019
ADBE
Sep 18, 2019 | 06:20 EDT
JPMorgan analyst Sterling Auty lowered his price target for Adobe to $318 from $329 and keeps a Neutral rating on the shares following last night's Q3 results. The digital marketing part of the business remains the "inconsistent piece" with the bookings shortfall weighing on the Q4 outlook, Auty tells investors in a research note. The analyst would like to see consistency out of this part of the business and better monetization of the Marketo acquisition before getting more constructive on the shares.
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