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Fly News Breaks for February 27, 2020
ADBE
Feb 27, 2020 | 08:34 EDT
Morgan Stanley analyst Keith Weiss raised the firm's price target on Adobe to $450 from $410 and keeps an Overweight rating on the shares, stating that he sees a much more attractive risk/reward in durable EPS growth stories like Adobe in the current environment of growing macro uncertainty and within a software universe "where hyper growth stories still screen very expensive." He sees the company as set up for greater than 20% EPS growth through FY21, but notes that the stock trades at a discount to peers that significantly under prices this growth.