Jefferies Offers Preview of Adobe's (ADBE) Upcoming Analyst Day, Reaffirms Buys Rating & $36 Price Target
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Price: $275.30 +1.13%
Rating Summary:
23 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
23 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Jefferies is reaffirming its Buy rating and $36 price target on shares of Adobe (NASDAQ: ADBE) ahead of its analyst day.
The firm expects management will focus on content creation and digital marketing during the conference.
In a break down, Jefferies believes they will first reiterate their fourth quarter guidance, which the firm is currently at the lower end of with their estimates. Next the firm expects management will speak more highly around the creative franchise given retooling for open standards, new offerings such as the Creative Cloud, the Photoshop opp and broader subscription pricing efforts. Last they anticipate management will offer an outlook for 2012 which is somewhat inline with the Street's current forecast, but sees ADBE offering a stronger revenue growth than the Street is looking for at this time.
An analyst at Jefferies comments, "ADBE appears to be regaining some confidence in the potential to stimulate better growth in the creative franchise, through retooling for open standards/ HTML5, new subscription offerings such as through the Adobe Creative Cloud, and broader adoption of subscription pricing."
For FY11 and FY12, Jefferies estimates EPS of $2.27 and $2.58. Revenue for FY11 and FY12 is forecasted to be $4.14 billion and $4.53 billion.
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 $29.92 yesterday.
The firm expects management will focus on content creation and digital marketing during the conference.
In a break down, Jefferies believes they will first reiterate their fourth quarter guidance, which the firm is currently at the lower end of with their estimates. Next the firm expects management will speak more highly around the creative franchise given retooling for open standards, new offerings such as the Creative Cloud, the Photoshop opp and broader subscription pricing efforts. Last they anticipate management will offer an outlook for 2012 which is somewhat inline with the Street's current forecast, but sees ADBE offering a stronger revenue growth than the Street is looking for at this time.
An analyst at Jefferies comments, "ADBE appears to be regaining some confidence in the potential to stimulate better growth in the creative franchise, through retooling for open standards/ HTML5, new subscription offerings such as through the Adobe Creative Cloud, and broader adoption of subscription pricing."
For FY11 and FY12, Jefferies estimates EPS of $2.27 and $2.58. Revenue for FY11 and FY12 is forecasted to be $4.14 billion and $4.53 billion.
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 $29.92 yesterday.
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