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KeyBanc Believes Adobe (ADBE) Still Has Room to Grow


In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Adobe (NASDAQ: ADBE). The company’s shares closed yesterday at $258.10, close to its 52-week high of $258.91.

According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 22.7% and a 77.6% success rate. Bracelin covers the Technology sector, focusing on stocks such as Tyler Technologies, Salesforce.com, and Everbridge Inc.

Currently, the analyst consensus on Adobe is Strong Buy and the average price target is $254.24, representing a -1.5% downside.

In a report issued on June 11, RBC Capital also maintained a Buy rating on the stock with a $268 price target.

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Adobe’s market cap is currently $126.2B and has a P/E ratio of 68.12. The company has a Price to Book ratio of 14.62.

Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.