KeyBanc analyst Jackson Ader upgraded Adobe (ADBE) to Sector Weight from Underweight. The firm sees little room for downside as well as revisions to fundamentals through the remainder of the year. Given that assumption, it is hard to argue for continued multiple compression relative to peers, the analyst tells investors in a research note, adding that it believes the shares are “fairly valued.”
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Read More on ADBE:
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- BMO Capital sees dislocation in Adobe’s growth potential and valuation
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