Wachovia Maintains an 'Outperform' Rating on Adobe (ADBE), Lowers Estimates
More News related to ADBE
- Adobe and KNS Collaborate to Advance Digital Literacy Skills for Teachers
- Leading Australian Broadcaster Selects Adobe Flash Platform to Deliver Tour de France Live on the Web
- Adobe (ADBE) and HTC Bring Flash Platform to Android
- Adobe and HTC Bring Flash Platform to Android
- After-Hours Movers 6/16: MERX, SVNT, NBIX, EIG, RAI Higher; STSI, ADBE, WLL Lower
Wachovia maintains an 'Outperform' rating on Adobe (Nasdaq: ADBE), but lowers estimates.
Wachovia analyst says, "We are lowering our estimates for Adobe ahead of the company’s earnings release on December 16, 2008. We believe that unfavorable economic conditions and credit issues continue to have an impact on Adobe’s products. Our checks indicate a slower uptake for the new versions of the CS4 which shipped in English languages versions in FQ4 (other major language versions expected in FQ109). We believe that the conversion rates to the new CS4 product cycle are likely to be lower than our original estimate....We have a positive stance towards the combined Adobe/Macromedia company and believe the merged companies will be stronger fundamentally, building on each entity's franchise of content creation products, especially in the creative professional segment, and complementary products in the intelligent document space."
Adobe Systems Incorporated is a diversified software company.
Related Categories
Analyst CommentsStocks Mentioned
-1.02Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
