Adobe: Jefferies still a buyer - raises target price
(CercleFinance.com) - Jefferies reiterates its "buy" recommendation on Adobe and has raised its corresponding target price from 350 dollars to 370 dollars, the day after the software publisher published its FY results, which led the broker to say that "Christmas came early".
"Reiterated FY20 guide now looks conservative," the broker says, noting that "All 3 Cloud segments are benefiting from the digital transformation secular trend".
"ADBE remains a top pick, with >90% recurring revs, 20%+ growth at ~40% op mgn, and well protected market leadership," the broker adds.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"Reiterated FY20 guide now looks conservative," the broker says, noting that "All 3 Cloud segments are benefiting from the digital transformation secular trend".
"ADBE remains a top pick, with >90% recurring revs, 20%+ growth at ~40% op mgn, and well protected market leadership," the broker adds.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.