Analysts are bullish on Adobe

Investor's Business Daily

The software maker's price target was raised to 80 from 65 by Jefferies, and it reiterated its buy rating on the stock. On Wed., UBS raised its target on Adobe Systems (ADBE) to 80 from 70, and Susquehanna Financial on Tue. issued a report on Adobe with a target price of 83. Wall Street analysts have been raising their price targets on Adobe ahead of the company's Q1 report, slated for release after the market close March 18. For the quarter, analysts see EPS ex items of 26 cents on sales of $990 mil, or year-over-year declines of 28% and 2% respectively. Shares fell 1.4% to 67.08.

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