Analysts remain optimistic for Adobe as the company announces more new initiatives to boost its offerings for pro-publishers.

Lehman Brothers analyst Caroline Sabbagha has increased her estimates for the company, assigning a target share price of $46.

In a similar move, RBC Capital markets analyst Steven Jue has maintained his "outperform" rating on Adobe and raised his estimates from $47 to $50. The analyst expects Adobe to launch the next version of its Acrobat product and upgrade its Creative Suite product in FY05.

Analysts at Piper Jaffray and WR Hambrecht & Co also raised their estimates last week. The latter firm set a 12-month target price of $53, recommending Adobe stock as a 'buy'. Piper Jaffray analyst Gene Munster also released a positive research note to clients last week.

As analysts remain positive, Adobe remains focused on professional publishing solutions, today announcing its collaboration with the International Press Telecommunications Council (IPTC).

Adobe and IPTC are working together to "extend the capabilities of IPTSC metadata through the use of the open standard Adobe XMP (Extensible Metadata Platform).

That latter technology means that professional media workers and businesses will be able to extend the amount of embedded information they can add to their images and stories. Such information can include captions, credits, location, and time and date, for example.

The new version will let users tag work with richer detail including usage rights, limitations and assignment information, creating a direct link between editorial systems and photographers’ work.

Adobe and IPTC also announced plans to develop future implementations that will be accessible via the Adobe Creative Suite, and related point products including Photoshop CS, through a customizable metadata user interface. This is intended to streamline the data-capture process and allow relevant IPTC metadata to be preserved as the file is utilized across news and derivative workflows.

“Metadata plays a vital role in production workflows, and Adobe’s XMP provides an efficient way to tag and manage digital media metadata within Adobe’s Creative Suite platform and its component applications,” said Mark Hilton, senior director of Creative Professional product management for Adobe.

“XMP will allow IPTC metadata to be preserved across diverse file formats and publishing systems to make it accessible to a wide variety of media resources".