Wunderlich Reiterates Hold On Adobe Systems (ADBE)

Wunderlich Securities maintains Hold on Adobe (NASDAQ: ADBE), maintains price target of $115.00.

Analyst Ryan McDonald comments on Adobe following the firms' $540M acquisition of TubeMogul on Dec 19, 2016:

"With the closing of this acquisition, ADBE is expanding the capabilities of the Marketing Cloud and extending its leadership into digital advertising with an end-to-end platform for purchasing video advertising across multiple channels. While Adobe expects to reaccelerate the growth of TubeMogul's Platform Direct offering above 30%, we don't expect this to occur until FY18. Hence, we are reiterating our Hold rating as ADBE works through this process."

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

Shares of closed at $108.57 yesterday.

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