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ADBE - Adobe Inc News Story

$488.5 4.9  1.0%

Last Trade - 23/10/20

Sector
Technology
Size
Large Cap
Market Cap £179.71bn
Enterprise Value £178.83bn
Revenue £9.54bn
Position in Universe 28th / 6447

BUZZ-Street View: Digital media paints another pretty picture for Adobe

Wed 16th September, 2020 11:24am
** Adobe Inc  ADBE.O  on Tuesday reported strong Q3 results
that beat estimates in a challenging macroeconomic environment,
driven by strength in digital media  urn:newsml:reuters.com:*:nASA0168J
    ** At least 5 analysts raise PT on ADBE
    
    DIGITAL TRANSFORMATIONS ARE BACK ON
    ** Piper Sandler ("overweight," PT: $570) says ADBE is
capitalizing on improving digital tailwinds 
    ** Brokerage sees improving document and creative cloud
growth prospects, and robust tailwinds tied to digital
    ** RBC ("outperform, PT: $570) believes ADBE posted the
exact catalyst which supports a pathway to ~20% Digital Media
growth in FY 2021
    ** Morningstar (FV: $400) says ADBE will continue to
dominate the creative segment, and its well-rounded portfolio,
positions it as a digital marketing leader
    ** Baird ("outperform," PT: $575) says ADBE is well
positioned to grow its marketing business, especially through
its artificial intelligence tool Sensei, which should improve
its competitive position vs. peers and could drive long-term
revenue growth
    ** Jefferies ("buy," PT: $600) says ADBE remains a top large
cap pick and is benefiting from high demand for creative content
and digital workflows

 (Reporting by Aniruddha Chakrabarty)
 ((aniruddha.c.thomsonreuters.com@reuters.net))
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