Ouch... good luck with that. All the analysts seem to love this company even though it looks like P/E compression is in order with the guidance they issued.
* Adobe Systems : JMP Securities raises target to $82 from $78; market outperform
* Adobe Systems : Susquehanna raises target price to $87 from $83; rating positive
* Adobe Systems : RBC raises target price to $85 from $75; rating outperform
* Adobe Systems : Baird raises target price to $75 from $70; rating neutral
* Adobe Systems : UBS raises target price to $85 from $80; rating buy
How exactly their guidance 'tops estimates' is in the eye of the beholders I suppose... it looks underwhelming to me, especially forecasted earnings for next Q, which will be DOWN yoy.
@@@@@The Outlook For the current quarter, Adobe projected revenue of $975 million to $1.025 billion and profit excluding items of 22 cents to 28 cents a share. That topped analysts’ estimates of revenue of $1.02 billion and 27 cents, according to data compiled by Bloomberg.