Analysts raise Adobe Systems price target after earnings beat; shares up 4.7%

|About: Adobe Systems Incorporated (ADBE)|By:, SA News Editor

Goldman Sachs raises Adobe Systems (NASDAQ:ADBE) by $6 to $147 while reiterating a Neutral rating.

Analyst Heather Bellini writes that the company unexpectedly increased FY17 revenue growth guidance and that she expects the company to meet EPS guidance. 

Piper Jaffray raises its Adobe target by $20 to $180 while reiterating an Overweight rating. 

Analyst Alex Zukin cites accelerating yet sustainable business and geographic reporting trends while raising FY17 EPS estimate to $4.04 and FY18 EPS to $5.02. 

Latest Adobe analyst standings: 12 Buy, 12 Outperform, 4 Hold, and 1 Sell.

Median price target: $145. 

Adobe shares are up 4.71% premarket.

Previously: Adobe Q2 beats estimates; shares up 3.5% (June 20)

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