NewsAdobe Systems "outperform," estimates raised
12/18/07 - Robert W. Baird
NEW YORK, December 18 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Adobe Systems Incorporated (ADBE), while raising their estimates for the company. The target price is set to $51.
In a research note published this morning, the analysts mention that the company has posted robust F4Q results, with revenues and EPS ahead of the consensus. Adobe Systems has issued its revenue and EPS guidance for F1Q at $855-$885 million and $0.44-$0.46, respectively, ahead of the consensus. While Acrobat 9 shipment is likely to boost Adobe Systems’ results in 3Q08, the product may be bundled into CS3 in 4Q08, helping drive demand ahead of the expected launch of CS4 in 1Q09, Robert W Baird adds. The EPS estimate for FY08 has been raised from $1.79 to $1.82.