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ADBE - Adobe Inc News Story

$495.96 1.4  0.3%

Last Trade - 9:00pm

Sector
Technology
Size
Large Cap
Market Cap £183.30bn
Enterprise Value £182.41bn
Revenue £9.61bn
Position in Universe 27th / 6436

BUZZ-Adobe: Rises as Q3 beats; 15 brokerages lift PTs

Wed 16th September, 2020 12:36pm
** Photoshop maker's shares  ADBE.O  up 2.7% at $511.50
premarket - set for third straight session of gains
    ** At least 15 brokerages hike PTs after ADBE beats Q3
revenue, profit estimates on cloud business strength
 urn:newsml:reuters.com:*:nL4N2GD2CZ
    ** Median PT is $555, implying 8.5% upside to current
trading levels
    ** Jefferies raises PT to Street high of $600 from $570
    ** CEO says retention rates in digital media business has
gone back to pre-COVID levels
    ** Wall Street is largely bullish on stock with 19 analysts
rating the stock "buy" or higher, while 8 rate "hold"
    ** Up to Tuesday's close, stock had risen ~51% so far this
year; ninth straight year of gains

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))
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