Brigantine Advisors Maintains a 'Hold' on Adobe (ADBE); Slightly Better Than Expected Quarter; Updating Model

Brigantine Advisors maintains a 'Hold' on Adobe (NASDAQ: ADBE), new price target is $36.

Brigantine analyst says, "We have a hold rating on shares of Adobe as we believe that the company’s plans are solid, would like to see another quarter or two of how they play out before suggesting investors buy in...We have updated our model. We are now expecting revenues of $991.6 million and non GAAP EPS of $0.54 for the May quarter. We had been expecting revenues of $967.7 million and non GAAP EPS of $0.54. For the year we are now expecting revenues of $4010 million and non GAAP EPS of $2.27, we had been expecting revenues of $3936 million and non GAAP EPS of $2.32."

For more ratings news on Adobe click here and for the rating history of Adobe click here.

Shares of Adobe closed at $32.88 yesterday.

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