In a report released today, Kash Rangan from Merrill Lynch maintained a Buy rating on Adobe (NASDAQ: ADBE), with a price target of $308. The company’s shares opened today at $269, close to its 52-week high of $277.61.
According to TipRanks.com, Rangan is a 5-star analyst with an average return of 15.0% and a 69.0% success rate. Rangan covers the Technology sector, focusing on stocks such as Salesforce.com, Splunk Inc, and Microsoft.
Adobe has an analyst consensus of Moderate Buy, with a price target consensus of $287.24, which is a 6.8% upside from current levels. In a report issued on September 10, Jefferies also maintained a Buy rating on the stock with a $300 price target.
Adobe’s market cap is currently $131.7B and has a P/E ratio of 61.87. The company has a Price to Book ratio of 15.13.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.
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