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Fly News Breaks for December 9, 2019
ADBE
Dec 9, 2019 | 07:22 EDT
Morgan Stanley analyst Keith Weiss raised his price target on Adobe shares to $410 from $340 as he believes the durable earnings power of the more mature Digital Media segment appears undervalued given investors fears about the company's other segment that accounts for the majority of revenues, namely and Digital Experience. However, he thinks improving and more consistent execution in Digital Experience could remove a weight from the stock's multiple, Weiss tells investors. He keeps an Overweight rating on Adobe shares.
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