Adobe Systems stock price target raised to $290 from $280 at Canaccord Genuity

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Adobe target hiked to $315 at Jefferies after earnings

Jefferies analyst Brent Thill raised his price target on shares of Adobe Systems Inc. to $315 from $300 late Thursday, following the company’s earnings beat. “Adobe scored 3 quarters in a row of 24% revenue growth, driven by continued high 20s growth in Creative Cloud and strong bookings in Experience Cloud,” Thill wrote. “We like Adobe for its highly visible subscription model (90% recurring revenues) and secular tailwinds in design, marketing, and internet.” He highlighted traction for newer products, such as Spark, a web tool for the education market, which he said are helping to expand Adobe’s user base. Shares are up 0.2% in premarket trading, and they’re up 73% over the past 12 months. The S&P 500 has gained 16% over the past year.

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