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Fly News Breaks for December 16, 2019
ADBE
Dec 16, 2019 | 07:53 EDT
Argus analyst Joseph Bonner raised his price target on Adobe to $368, citing the company's strong revenue and margin growth reported last week for Q4. The analyst is positive on the company's position "at the center of the exploding market for digital video content and advertising creation, along with its "admirable" track record of innovation in digital content creation. Bonner keeps his Buy rating on Adobe and also raises his FY20 EPS view by 13c to $9.86, with an FY21 initial EPS estimate of $11.87.
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