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Fly News Breaks for December 13, 2019
ADBE
Dec 13, 2019 | 08:33 EDT
Jefferies analyst Brent Thill noted that Adobe's net new ARR metric for its Digital Media business beat its own raised guidance and that the Q1 guidance of $360M for the metric was "well ahead of buy and sell-side expectations." He points to this, among other metrics, as evidence that "the star performer shows no signs of fading." Meanwhile, the Digital Experience segment bounced back nicely after bookings delays in Q3, added Thill. The company's reiterated FY20 guidance now looks conservative, especially in Digital Media, concluded Thill, who raised his price target on Adobe shares to $370 from $350 and keep a Buy rating on the stock.