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Fly News Breaks for December 13, 2019
ADBE
Dec 13, 2019 | 06:19 EDT
Piper Jaffray analyst Brent Bracelin raised his price target for Adobe to $360 from $339 saying the company's Q4 results were "strong." While he tempered his growth estimates on the company's Publishing and Digital Experience segments, the analyst increased his earnings for this year and next on improving margins. Bracelin has increasing confidence in Adobe's Creative Cloud and Document Cloud segments. He views Overweight-rated Adobe as a core cloud growth holding for 2020.
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