This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Street Applauds Adobe Systems

Shares of Adobe Systems (ADBE - Get Report) jumped as much as 13% on Friday after the company's latest earnings report reassured investors about the state of its business ahead of an ambitious product-launch schedule.

The company expects to release key products -- such as its Acrobat document creation programs and its suite of software for creative professionals -- on time over the next nine months. While Adobe does expect sales of its flagship creative suite to tail off before the launch of the new version next spring, its latest results indicate that demand for the product is still solid. And Adobe's outlook suggests that the company expects other new products to make up for any sales slack in coming months.

"The bottom line is Adobe's end markets are healthy," wrote Piper Jaffray analyst Gene Munster in a report released Friday. Its underlying health "appears to be providing a soft landing for [the new creative suite] ahead of the highly anticipated launch of [the next version]," added Munster, whose firm has done noninvestment banking business for Adobe in the last year.

Munster reiterated his outperform rating and $45 price target on Adobe's stock. And he wasn't the only one that was bullish. At least three other analysts reiterated their outperform or buy ratings, and Goldman Sachs upgraded the stock to a buy from a neutral.
1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ADBE $76.67 2.31%
AAPL $93.99 0.31%
FB $102.01 0.10%
GOOG $682.40 -0.10%
TSLA $151.04 0.38%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs