Griffin Securities Reiterates Buy On Adobe Systems, Raises PT to $85

Griffin Securities analyst Jay Vleeschhouwer yesterday reiterated his ‘Buy’ rating on Adobe Systems Inc. (ADBE), and raised his price target from $80 to $85.

“We estimate that Adobe will have its first billion-dollar subscription revenue quarter during FY16, and that creative ARR will be at least $3.9 billion by the end of FY16, vs. $801 million at the end of FY13, Vleeschhouwer wrote.

According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Jay Vleeschhouwer currently has a one-year average return of 20.1% and a 82% success rate. He is ranked #672 out of 3115 analysts.

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