Adobe Systems "outperform," estimates raised

12/20/04 - Piper Jaffray

NEW YORK, December 20 (newratings.com) - Analyst Gene Munster of Piper Jaffray reiterates his "outperform" rating on Adobe Systems (ADBE), while raising his estimates for the company.

In a research note published on December 17, the analyst mentions that the company reported its EPS and revenues for the November quarter ahead of the consensus due to the healthy performance of the digital imaging and video segment. Adobe Systems is expected to witness robust revenue growth in 2005, driven by the impressive sales potential of its Acrobat 7.0 and Creative Suite 2.0 products, the analyst says. The EPS estimate for FY05 has been raised from $1.93 to $1.96.