Markets & Finance

WR Hambrecht Keeps Buy on Adobe

WR Hambrecht reiterated its buy opinion on Adobe Systems (ADBE), citing the company's third quarter results announcement late Thursday.

Analyst Karen Haus said that the company's solid third quarter results were generally in line; $487 million revenues were just shy of $489 million consensus estimates, but 29 cents earnings per share beat the consensus by 2 cents. She says Adobe continues to benefit from strong performance in its CS2 product cycle, which has been slightly ahead of her estimates. She noted the wildcard on whether Adobe obtains regulatory approval for its pending acquisition of Macromedia (MACR), but she's optimistic the deal will close within the next few weeks. Based on third quarter results and fourth quarter guidance, she raises her $1.09 fiscal year 2005 (ending November) earnings per share estimate to $1.14, and maintains her $1.20 fiscal year 2006 earnings per share estimate. She has her 12 month price target at $36.

Toyota's Hydrogen Man

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

blog comments powered by Disqus