FBR says investors are getting carried away on Adobe today.
FBR Capital Markets analyst Samad Samana, however, says investors are getting a little carried away.
"While the progress of the transition thus far makes us incrementally more positive on Adobe's strategy, we believe shares at current levels reflect much of the anticipated success going forward," he said in a research note Friday. Samana rates Adobe market perform, with a price target of 52.
Expect ADBE to close at a new high or close to it as SHORTS cover their positions. It looks to me like ADBE turned into a Momentum play overnight. In any event, ADBE is worth far less than its stock value, and strong SHORTS will be rewarded.