Microsoft’s Acrylic Launch Seen As Non-Event To Adobe
Source: Forbes
Piper Jaffray maintained an “outperform” rating and $37 target price on Adobe Systems (nasdaq: ADBE - news - people ) and looks for the company to beat second-quarter and third-quarter Street estimates.
Piper also stressed that the beta release of Acrylic from Microsoft will be inconsequential, and that the resulting drop in Adobe shares last week created a “buying opportunity,” explaining, “while it is clearly too early to make a final determination on the impact of this potential competitive product, we do not expect Photoshop or Illustrator market share will be materially impacted.
Editore’s Note: PSN will have a preliminary review of Acrylic and an evaluation of the likely impact to Adobe and Photoshop in a day or so. Stay tuned.