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Fly News Breaks for December 13, 2019
ADBE
Dec 13, 2019 | 06:35 EDT
UBS analyst Jennifer Lowe raised her price target on Adobe to $360 and kept her Buy rating after its Q4 annualized recurring revenue, sales, and earnings all topped expectations. The analyst further notes that the company's Experience Cloud appears to be "near stability" with assets having been integrated and Adobe "feeling good: about the current direction of the business. Lowe believes that if execution remains strong, Adobe can sustain its historical 30- to 32-times price to next-12-months earnings.
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