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ADBE

Adobe

$138.05

-4.58 (-3.21%)

09:45
06/12/17
06/12
09:45
06/12/17
09:45

Technical View: Adobe chart, longer-term uptrend support broken

The shares have broken the uptrend support line that has been in place since the start of this year. At the current price of $131.61, the stock is down more than 4.6%. At that price, next support is at $130.82 and then at $129.63. It would take a move that held back above the $136 area to put the stock back on a more bullish footing and at the uptrend support line.

ADBE Adobe
$138.05

-4.58 (-3.21%)

05/02/17
LEHM
05/02/17
INITIATION
Target $155
LEHM
Overweight
Adobe initiated with an Overweight at Barclays
Barclays analyst Saket Kalia started Adobe with an Overweight rating and $155 price target. Creative Cloud migration and Marketing Cloud strength should drive 20% growth over the next two years, the analyst contends.
05/02/17
05/02/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Adobe (ADBE) initiated with an Overweight at Barclays. 2. Okta (OKTA) initiated with a Hold at Canaccord, an Overweight at JPMorgan, and a Neutral at Goldman Sachs. 3. Enbridge (ENB) initiated with an Equal Weight at Morgan Stanley. 4. C&J Energy Services (CJ) reinitiated with an Outperform at Credit Suisse and initiated with an Equal Weight at Morgan Stanley. 5. Madison Square Garden (MSG) initiated with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/09/17
BMOC
06/09/17
NO CHANGE
BMOC
Adobe price target raised to $160 from $140 at BMO Capital
BMO Capital analyst Keith Bachman says that he believes that Adobe "has developed a next generation digital marketing hub." He thinks that this tool gives the company a "sustainable competitive advantage" and "significantly expands its total available market." He continues to identify the stock as his top software/SaaS pick and reiterates an Outperform rating.
06/12/17
PIVT
06/12/17
DOWNGRADE
Target $112
PIVT
Sell
Adobe downgraded to Sell from Hold at Pivotal Research
Pivotal Research analyst Brian Wieser downgraded Adobe to Sell citing valuation. The analyst is positive on the company's fundamentals, but notes the current share price is 20% above his price target of $112, which is raised from $109.

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