Nov 16, 2005

Adobe Likely To Reach High End Of Q4 Guidance

Source: Forbes
Written By David Ng

Piper Jaffray reiterated an “outperform” rating and $37 target price on Adobe Systems (nasdaq: ADBEnewspeople ), saying the software company is likely to reach the high end of fiscal fourth-quarter guidance.

The research firm also expects investors to react favorably to recent data published by the media group NPD.

“NPD distributor data for the first two months of Adobe’s November [fiscal fourth] quarter is tracking primarily in line with Street expectations,” Piper analyst Gene Munster wrote in a note to investors. “While in line with expectations, we believe this data will be viewed positively by the Street.”

NPD reported that distributor data for Adobe were up 3% sequentially, versus the Street estimate of 4%.

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