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ADBE

Adobe

$255.68

3.78 (1.50%)

, MSFT

Microsoft

$100.88

0.64 (0.64%)

05:18
06/19/18
06/19
05:18
06/19/18
05:18

Adobe advances partnership with Microsoft

Adobe (ADBE) announced powerful new enhancements to Adobe Document Cloud with advancements for Adobe Sign and new PDF integrations across Microsoft Office 365 (MSFT). Adobe Sign is now more deeply integrated with Microsoft Dynamics 365, providing real-time access to customer details from LinkedIn Sales Navigator and more automated sales processes. Adobe Sign is now also the first Cloud Service Provider in the industry to receive FedRAMP Tailored authorization that meets the government's rigorous security standards, so Adobe Document Cloud can be quickly deployed across U.S. Federal agencies. And with new PDF integrations, all Office 365 users with a subscription to Adobe Acrobat DC for teams or enterprise will now have the ability to create, manipulate, and view high-quality, secure PDFs right from the ribbon in online versions of Microsoft Word, Microsoft Excel, Microsoft PowerPoint, Microsoft OneDrive and Microsoft SharePoint.

ADBE

Adobe

$255.68

3.78 (1.50%)

MSFT

Microsoft

$100.88

0.64 (0.64%)

ADBE Adobe
$255.68

3.78 (1.50%)

06/15/18
BOFA
06/15/18
NO CHANGE
Target $292
BOFA
Buy
Adobe price target raised to $292 from $278 at BofA/Merrill
06/15/18
ADAM
06/15/18
NO CHANGE
Target $280
ADAM
Buy
Adobe price target raised to $280 from $245 at Canaccord
Canaccord analyst Richard Davis raised his price target on Adobe to $280 from $245 following the company's earnings report, but said that given the year-to-date rise in the stock price he would not be surprised to see it take a breather. He noted the trend toward more large deals, the recent acquisition of Magento, and said he would buy a starter position on any pullback. Davis reiterated his Buy rating on Adobe shares.
06/15/18
RBCM
06/15/18
NO CHANGE
Target $288
RBCM
Outperform
Adobe price target raised to $288 from $268 at RBC Capital
RBC Capital analyst Ross MacMillan raised his price target on Adobe to $288 after its Q2 results, saying that while the operating expenditure for the quarter and the Q3 outlook for recurring revenue were disappointing, the positive fundamentals remain "very much" intact. The analyst also states that the 4pt improvement in tax rate guidance is important in driving his updated earnings outlook model, raising his FY18 expected EPS to $6.87 from $6.56 and FY19 view to $8.03 from $7.56. MacMillan keeps his Outperform rating on Adobe, adding that its $1.68B price tag on Magento also looks "fairly reasonable".
06/15/18
BMOC
06/15/18
NO CHANGE
Target $278
BMOC
Outperform
Adobe price target raised to $278 from $260 at BMO Capital
BMO Capital analyst Keith Bachman raised his price target on Adobe to $278 and kept his Outperform rating after "another strong quarter" in Q2. The analyst cites the company posting upside revenue and free cash flow results, along with an operating margin expansion of 280bps, even though that expansion has slowed relative to Adobe's past quarters. Bachman anticipates further operating margin expansion of 270bps in FY18 and 220bps in FY19, saying Adobe can "strike the balance" between margins and sustaining revenue growth trends through "nurturing investments".
MSFT Microsoft
$100.88

0.64 (0.64%)

06/13/18
UBSW
06/13/18
NO CHANGE
Target $114
UBSW
Buy
Microsoft trading at discount to peers, says UBS
UBS analyst Jennifer Swanson Lowe believes Microsoft's current price undervalues both the emerging Cloud story and the durable on-premise legacy businesses. The analyst said Microsoft content is taking center stage as it acquired four game studios and formed a fifth. She also believes the strength of the Azure platform can be a differentiator for the company. Lowe reiterated her Buy rating and $114 price target on Microsoft shares.
06/12/18
MSCO
06/12/18
NO CHANGE
Target $130
MSCO
Overweight
Microsoft gaming model moving 'from Gillette to Netflix,' says Morgan Stanley
Morgan Stanley analyst Keith Weiss said announcements from E3 and his meeting with Executive VP of Gaming at Microsoft (MSFT), Phil Spencer, supported his view that the company's gaming division is "moving from Gillette to Netflix," meaning that its model is being transformed from a "razor/razor blade model" built on the Xbox console base towards a subscription gaming service streaming from Azure to all types of devices. Adding five new development studios to buttress Microsoft's first-party content particularly supported this view, said Weiss, who keeps an Overweight rating and $130 price target on Microsoft shares.
06/11/18
BERN
06/11/18
NO CHANGE
Target $123
BERN
Outperform
Microsoft kicks game up a notch, says Bernstein
Bernstein analyst Mark Moerdler notes that Microsoft is, "not surprisingly," increasing its investments in gaming by adding 5 new creative teams to Microsoft Studios, launching a brand-new gaming Studio - The Initiative, acquiring Playground Games, and announcing letters of intent to acquire Ninja Theory, Undead Labs and Compulsion Games. Microsoft is making numerous small acquisitions and launching significant new game development capability, he points out, adding that it is unlikely that Microsoft will make any large content creation acquisition after these announcements. The analyst reiterates an Outperform rating and $123 price target on the shares.
06/06/18
ARGS
06/06/18
NO CHANGE
Target $116
ARGS
Buy
Microsoft price target raised to $116 from $107 at Argus
Argus analyst Joseph Bonner maintained a Buy rating on Focus List choice Microsoft and raised his price target by $9 to $116 following the company's plans to acquire GitHub for $7.5B in stock, the second-largest acquisition in Microsoft's history. In a research note to investors, Bonner says the purchase is the biggest sign yet of the monumental shift in Microsoft's strategy and orientation under Satya Nadella, its CEO, and that Nadella has sought to shift the company to an open-source ethos that dovetails with its Azure cloud services business rather than seeking to protect Windows software at any cost. Bonner maintained his FY18 EPS forecast of $3.84 and FY19 forecast of $3.92.

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