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

March 20, 2013 10:47 AM EDT Send to a Friend
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Price: $69.19 --0%

Rating Summary:
    15 Buy, 13 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 4 | Down: 5 | New: 13
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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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