UBS Maintains a 'Buy' on Adobe (ADBE); VARs on Cruise Control Before Launch of CS6
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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 from $34 to $37.
UBS analyst says, "Our proprietary global survey showed VARs feeling slightly better about macro and Adobe demand trends. However, there were no strong signals that stood out either on the upside or downside. The subdued results appear consistent with the lull before the launch of CS6, which is expected in FQ2 (May qtr). ADBE stock is up 18% YTD and up 46% since 1-yr trough of $22.69 on 8-19-11. For the next leg up, we believe ADBE needs to succeed with the CS6 launch, Creative Cloud subscription offering, and strategic transition currently underway."
"Our Q1 estimate are unchanged: revs (excluding Efficient Frontier acquisition) $1,050M vs. guide $.1,025-1,075M, Street $1,054M; EPS $0.58 vs. guide $0.54-0.59, St. $0.57."
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 $33.22 yesterday.
UBS analyst says, "Our proprietary global survey showed VARs feeling slightly better about macro and Adobe demand trends. However, there were no strong signals that stood out either on the upside or downside. The subdued results appear consistent with the lull before the launch of CS6, which is expected in FQ2 (May qtr). ADBE stock is up 18% YTD and up 46% since 1-yr trough of $22.69 on 8-19-11. For the next leg up, we believe ADBE needs to succeed with the CS6 launch, Creative Cloud subscription offering, and strategic transition currently underway."
"Our Q1 estimate are unchanged: revs (excluding Efficient Frontier acquisition) $1,050M vs. guide $.1,025-1,075M, Street $1,054M; EPS $0.58 vs. guide $0.54-0.59, St. $0.57."
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 $33.22 yesterday.
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