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Adobe (ADBE) Revamped Cloud Software Will Boost the Stock

Posted by The Staff on Apr 19, 2012 3:21 PM

Adobe (Nasdaq: ADBE) is set to launch CS6 on Monday, April 23rd. The revamped cloud based software will allow Adobe to unveil products, features and pricing details. Analysts at Macquarie Equity Research are anticipating a successful launch of CS6 will help support the stock, which currently trades at near $32.94 per share, five dollars below their 12 month target of $37.

Analysts Brad Zelnick and Bhavin Shah of Macquarie E.R. maintained their outperform rating on Adobe, stating that "While Adobe shares historically underperform post CS launch, we believe CS6 will break the trend given a transformative subscription model, interest in the high-growth Digital Marketing business, and a more compelling valuation."

ADBE is not currently in the ESA 100.

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