Adobe: Jefferies says buy before results
(CercleFinance.com) - Jefferies confirms its 'buy' recommendation on, and $700 target price for Adobe shares, believing that the nervousness ahead of the earnings release - scheduled for 11 December after trading - could present an opportunity.
Negative sentiment persists, with the share price down 8% YTD and investors bracing themselves for a group revenue growth target of 8%-9% for FY 2025, the broker notes.
Jefferies considers a cautious target of 10% to be more likely, and believes that even Adobe fans are reluctant to take the plunge before the quarterly publication, creating an opportunity if the forecasts turn out to be good enough.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Negative sentiment persists, with the share price down 8% YTD and investors bracing themselves for a group revenue growth target of 8%-9% for FY 2025, the broker notes.
Jefferies considers a cautious target of 10% to be more likely, and believes that even Adobe fans are reluctant to take the plunge before the quarterly publication, creating an opportunity if the forecasts turn out to be good enough.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.