Adobe is attracting positive comment this morning, with analysts raising their predicted target price for the company.
Analyst Steve Jue of RBC Capital Markets this morning repeated his 'outperform' assessment on Adobe, raising his target price from $57 to $64. He points to consistently healthy sales across Adobe's product lines, and predicts 2005 performance will be improved by sales of the yet-to-be-launched Creative Suite upgrade.
Piper Jaffray analyst Gene Munster also raised his Adobe estimates this morning, also on the strength of Acrobat 7.0 and Creative Suite 2.0 sales.
JMP Securities analysts last week repeated their 'market outperform' on Adobe, raising estimates from $54 to $72.
Analysts at Prudential are less optimistic, issuing a "neutral" weighting on the company's stock with a $60 target.