Following yesterday's FQ1 report (I, II), Adobe (ADBE -4.3%) receives an upgrade to Sector Perform from RBC, and a downgrade to the same rating from Pac Crest. The former is pleased with Adobe's transition to a subscription-based model, while the latter is worried about soft Creative Suite sales ahead of CS6's arrival. Piper, meanwhile, is optimistic CS6 demand will be strong. (transcript)
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