Goldman Sachs Raises PT, Maintains Sell on Adobe (ADBE)

March 20, 2013 10:47 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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Goldman Sachs today maintained a Sell rating on Adobe (NASDAQ: ADBE) and raised its price target to $34.00 (from $30.00).

"We are raising our 12 month price target from $30 to $34 as we increase our multiples given the company's successful execution thus far in its subscription transition," said analyst Heather Bellini.

Goldman maintained FY13 revenue forecast of $4.1 billion but are raised FY13
non-GAAP EPS forecast from $1.40 to $1.45.

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 $40.75 yesterday.

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