Credit Suisse Assumes Adobe (ADBE) at Neutral

Credit Suisse assumes coverage on Adobe (NASDAQ: ADBE) with a Neutral rating and a price target of $105.00 (from $85.00).

Analyst M. Nemeroff commented, "We assume coverage of ADBE with a Neutral rating and $105 target price. We believe ADBE has several multi-year growth initiatives ahead of the company and a unique marketing vision. In our view, the premium valuation is already pricing in much of the good news, and we see a lack of NT catalysts that would justify further multiple expansion."

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 $96.33 yesterday.

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