UBS Maintains a 'Buy' on Adobe (ADBE); Solid FY11 Finish, Low FY12 Bar
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Price: $264.02 -2.39%
Rating Summary:
23 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Adobe (NASDAQ: ADBE) price target raised $1 to $34.
UBS analyst says, "Q4 results dispelled fears of slowdown from either macro or customer hesitation ahead of CS6 launch. EMEA revs grew 30% q/q, and all major geos were up >10% y/y. Gov’t sector had a record qtr. All key segments beat our ests except Creative, though only a 1% miss & still grew 8% y/y. This led to Q4 rev, op mgn, & EPS all above hi-end of guidance. Bears might point to $30M Enterprise beat as drained pipeline, however ADBE’s direct sales force executed across multiple fronts, incl. record Acrobat revs, OMTR large deals, and CS volume license."
"Raising estimates for Q4 beat and confident FY12 guide: FY12 to/from: rev $4.45Bn/4.35Bn (assumes 4% growth + $70M for Efficient Frontier); op mgn 37.6%/37.3%; EPS $2.44/2.36."
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 $26.46 yesterday.
UBS analyst says, "Q4 results dispelled fears of slowdown from either macro or customer hesitation ahead of CS6 launch. EMEA revs grew 30% q/q, and all major geos were up >10% y/y. Gov’t sector had a record qtr. All key segments beat our ests except Creative, though only a 1% miss & still grew 8% y/y. This led to Q4 rev, op mgn, & EPS all above hi-end of guidance. Bears might point to $30M Enterprise beat as drained pipeline, however ADBE’s direct sales force executed across multiple fronts, incl. record Acrobat revs, OMTR large deals, and CS volume license."
"Raising estimates for Q4 beat and confident FY12 guide: FY12 to/from: rev $4.45Bn/4.35Bn (assumes 4% growth + $70M for Efficient Frontier); op mgn 37.6%/37.3%; EPS $2.44/2.36."
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 $26.46 yesterday.
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