Adobe: Jefferies maintains buy rating, cuts target price
(CercleFinance.com) - Jefferies reinstates its "buy" rating on Adobe shares, with a target price reduced from 475 dollars to 440 dollars, despite relatively resilient Q3 results and targets, despite macroeconomic concerns.
"However, the announced $20bn acquisition of Figma raises new concerns given its size, high price and timing," the broker said in its comments on the software company.
"While Figma may prove transformative as in past transactions (e.g. Macromedia), the payback period is several years on a record investment," it 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.
"However, the announced $20bn acquisition of Figma raises new concerns given its size, high price and timing," the broker said in its comments on the software company.
"While Figma may prove transformative as in past transactions (e.g. Macromedia), the payback period is several years on a record investment," it adds.
Copyright (c) 2022 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.