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UBS Raises Price Target on Adobe Systems (ADBE) to $122 Following Strong 2Q

June 22, 2016 7:53 AM EDT

UBS reiterated a Buy rating on Adobe Systems (NASDAQ: ADBE), and raised the price target to $122.00 (from $114.00), following the company's 2Q earnings report. ADBE reported revenue of $1,399M in the upper half of the company's guidance of $1,365-1,415M, but below the Street's $1,404M. EPS was reported at $0.71, beating the Street's $0.68, and guidance of $0.64-0.70.

Analyst Brent Thill commented, "Q1 was a tough one to match: a beat... More