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Fly News Breaks for December 13, 2019
ADBE
Dec 13, 2019 | 07:25 EDT
Wells Fargo analyst Phil Winslow raised his price target for Adobe to $315 from $285 and reiterated an Equal Weight rating following the company's Q4 "solid" Q4 results. Winslow tells investors in a research note that although he is impressed by Adobe's successful transition to subscription and ability to increase its total addressable market, he believes that the stock's current valuation reflects these trends along with much of the Experience Cloud opportunity ahead.
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