Goldman Sachs Upgrades Adobe Systems (ADBE) to Buy
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Goldman Sachs upgrades Adobe Systems Inc. (Nasdaq: ADBE) to Buy and raised their price target to $42, suggesting 21% upside.
The firm said ADBE is close enough to a CS5 launch to want to put fresh money to work in the shares. The firm also said ADBE will also benefit from the PC refresh cycle and OS upgrades from Microsoft and Apple.
Goldman also said the uncertainty from the Omniture deal has created a buying opportunit and they see margin improvement as the top line reaccelerates beyond current guidance.
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