BofA/Merrill Lynch Remains Bullish on Adobe Systems (ADBE) Following 4Q Beat

December 15, 2017 7:55 AM EST
Get Alerts ADBE Hot Sheet
Price: $379.33 -3.29%

Rating Summary:
    26 Buy, 25 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 32 | New: 9
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BofA/Merrill Lynch reiterated a Buy rating and $220.00 price target on Adobe Systems (NASDAQ: ADBE) following the company's 4Q earnings report. ADBE printed a strong beat (sales +2.1%, EPS +7.5% vs Street), guided FQ1:18E revs/EPS slightly better than Street (revs +$7mn, EPS +3c) and guided up FY18E revs by $25mn to $8.725bn.

ADBE will host its 2018 marketing summit on March 27th and could be a key catalyst for the stock in FY18 - key remains incremental B2B opportunity through MSFT partnership and strategic M&A to further improve market share. Second, in March 2018, ADBE will roll out its first CC price increase over the past 5 yrs in US market alone.

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 $175.00 yesterday.

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