Dougherty & Co Starts Adobe (ADBE) at Buy

Dougherty & Co initiated coverage on Adobe (NASDAQ: ADBE) with a Buy rating and a price target of $114. Analyst Robert Mattson noted that Adobe is a large cap name with a high visibility recurring revenue model in a fast growing market.

"Adobe is in a unique position to meet a broad swath of needs for marketing professionals. Not only does Adobe bring to market a broad and deep portfolio of products to create digital content, but the company also has an impressive portfolio for the management and distribution of that content in high scale marketing technology environments, enabling the largest of enterprises meet some of the most sophisticated requirements. Adobe is one of the few marketing technology companies that has established a clear leadership position. Adobe should be a core position given its competitive position, accelerating revenue growth, and impressive earnings and cash flow growth," said Mattson.

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 $88.30 yesterday.

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