Cowen Remains Bullish on Adobe Systems (ADBE) Following Analyst Day

November 3, 2016 7:55 AM EDT
Get Alerts ADBE Hot Sheet
Price: $110.71 +0.84%

Rating Summary:
    24 Buy, 14 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Cowen maintained an Outperform rating and $120.00 price target on Adobe Systems (NASDAQ: ADBE) following analyst day. In Digital Media, Cowen believes that ADBE has the potential to at least double its ARR over the next 3 years. In Digital Marketing, analysts see a potential of ~$0.50 incremental EPS contribution from 2016 to 2019, considerably lower than Digital Media but carrying a larger long-term revenue/growth potential.

Analyst Derrick Wood commented, "As the world shifts from a product economy to an experience economy, ADBE is one of the best positioned companies given its unique ability to manage content & data. We view ADBE as the ERP vendor for digital assets, making them an increasingly strategic vendor for digital transformation projects. In turn, we see potential for ADBE to more than double EPS by '19, up from ~$3 in '16."

For an analyst ratings summary and ratings history on Adobe click here. For more ratings news on Adobe click here.

Shares of Adobe closed at $105.89 yesterday.

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