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Fly News Breaks for December 13, 2019
ADBE
Dec 13, 2019 | 07:32 EDT
Credit Suisse analyst Brad Zelnick raised his price target for Adobe to $350 from $325 and reiterated an Outperform rating following the company's Q4 results, which highlighted its unique positioning and market opportunity with another record Digital Media quarter. While some may harp on the Q1 guidance, Zelnick tells investors in a research note that he believes the outperformance in Q4 and reiteration of FY20 net new ARR likely signals upside to Digital Media revenue, margins and EPS.
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