Griffin Securities Reiterates Buy On Adobe Systems Following First Day Of Annual MAX Conference
In a research report issued today, Griffin Securities analyst Jay Vleeschhouwer reiterated a Buy rating on Adobe Systems (NASDAQ:ADBE) with an $85 price target, following the first day of the annual MAX conference.
Vleeschhouwer noted, “The general session and news on the first day of the annual MAX conference underscored that Adobe continues to excel at the science of design – supplemented as well now by its offerings for the integration of the processes of design (plus of course the deepening bi-directional connection to the Digital Marketing side of the business). The product announcements and demonstrations were coherent with (a follow-up to) the roadmap and intentions given at MAX 2013 (when Adobe stated it would be “aggressive” on the creative workflow) and at the Digital Marketing Summit in March 2014 (previews of multiple mobile apps that would complement the desktop apps). While new apps and “ARPU-enhancing services” are somewhat difficult for the time being to quantify or estimate precisely the incremental effect on revenues and other metrics, the clear intent of the new mobile apps and services is to drive subscriber adoption, subscriber retention, and ARPU.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jay Vleeschhouwer has a total average return of 16.4% and a 69.2% success rate. Vleeschhouwer has a 27.6% average return when recommending ADBE, and is ranked #640 out of 3319 analysts.