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Fly News Breaks for November 5, 2019
Nov 5, 2019 | 09:36 EDT
RBC Capital analyst Alex Zukin raised his price target on Adobe to $345 and kept his Outperform rating after its in-line Q4 guidance and above-consensus FY20 outlook for Digital Media recurring revenue. The analyst further cites Adobe management's focus on incremental margin contribution from its Digital Experience segment, stating that the company is confident about the business and adding that he expects a "leadership announcement there soon".
News For ADBE From the Last 2 Days
Dec 13, 2019 | 16:27 EDT
Stocks were on a roller-coaster in morning trading amid conflicting reports about the status of trade negotiations between the U. S... To see the rest of the story go to See Story Here
Dec 13, 2019 | 12:22 EDT
Stocks were whipsawed in morning trading amid conflicting reports about the status of trade negotiations between the U. S... To see the rest of the story go to See Story Here
Dec 13, 2019 | 09:55 EST
Notable gainers among liquid option names this morning include PPL Corp. (PPL) $35.26 +1.65, Adobe (ADBE) $318.02 +12.28, Biogen (BIIB) $302.08 +8.17, Ball Corp. (BLL) $64.64 +1.24, and Humana (HUM) $353.52 +6.44.
Dec 13, 2019 | 09:01 EST
UP AFTER EARNINGS: Adobe (ADBE), up 2%. ALSO HIGHER: Snap (SNAP), up 2% after JMP Securities analyst Ronald Josey upgraded the stock to Outperform from Market Perform with a $20 price target. The analyst is "incrementally confident" in Snap's ability to grow its user base, increase engagement, and improve overall monetization as the service attracts more advertisers and share of advertising budgets... Xperi (XPER), up 2% after raising Q4 and FY19 billings outlook... Exelixis (EXEL), up 4% after Genentech announced the Phase III IMspire150 study met its primary endpoint of progression-free survival. In late 2006, Exelixis entered into a worldwide collaboration agreement with Genentech, under which Exelixis received initial upfront and milestone payments for signing the agreement and submitting the IND... Sarepta (SRPT), up 32% after announcing that the FDA has approved VYONDYS 53, an antisense oligonucleotide indicated for the treatment of Duchenne muscular dystrophy in patients with a confirmed mutation amenable to exon 53 skipping. DOWN AFTER EARNINGS: Oracle (ORCL), down 2%... Broadcom (AVGO), down 1%. ALSO LOWER: Patterson-UTI (PTEN), down 2% after JPMorgan analyst Sean Meakim downgraded shares to Underweight from Neutral with a price target of $6, down from $7... Anixa Biosciences (ANIX), down 2% after announcing optimization work for its CAR-T therapy may take an additional year, resulting in the filing of the IND in late 2020, with clinical trials to commence in 2021... Aquestive Therapeutics (AQST), down 18% after its 7M share secondary priced at $5.00 per share.
Dec 13, 2019 | 07:30 EST
Stifel analyst Tom Roderick price raised his price target on Adobe shares to $350 from $325 following the company's Q4 earnings report, which he called a "reminder" that Adobe is much more "aircraft carrier" than "leaky sailboat." Since reporting some unexpected challenges in Experience Cloud in September the company has been able to turn things around in that segment in a rapid manner, Roderick stated. He keeps a Buy rating on Adobe shares.
Dec 13, 2019 | 07:25 EST
Wells Fargo analyst Phil Winslow raised his price target for Adobe to $315 from $285 and reiterated an Equal Weight rating following the company's Q4 "solid" Q4 results. Winslow tells investors in a research note that although he is impressed by Adobe's successful transition to subscription and ability to increase its total addressable market, he believes that the stock's current valuation reflects these trends along with much of the Experience Cloud opportunity ahead.
Dec 13, 2019 | 06:35 EST
UBS analyst Jennifer Lowe raised her price target on Adobe to $360 and kept her Buy rating after its Q4 annualized recurring revenue, sales, and earnings all topped expectations. The analyst further notes that the company's Experience Cloud appears to be "near stability" with assets having been integrated and Adobe "feeling good: about the current direction of the business. Lowe believes that if execution remains strong, Adobe can sustain its historical 30- to 32-times price to next-12-months earnings.