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Technology Stocks : Adobe (adbe) opinions

ADBE 333.65

-1.0%

3:59 PM EST

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To: AnnieO who wrote (2776)	3/1/2000 12:35:00 AM
From: AnnieO	Read Replies (1) of 3111

ADBE : ADOBE SYSTEMS (NASDAQ) All Headlines RESEARCH ALERT - Adobe Systems started at buy NEW YORK, Feb 29 (Reuters) - PaineWebber on Tuesday said analyst Ben Reitzes began coverage of graphics publishing software company Adobe Systems Inc. (NASDAQ: ADBE) at buy. -- said set share price target at $135. -- said company benefits from strong fundamentals for growth in software used in Web publishing, ePaper and digital photography. -- said new software products set to take off in Q2 '00, and "we expect Adobe to gain share in key segments in 2000." -- said company "should far exceed 20 percent EPS growth over long-term, with an extremely solid balance sheet." -- said "our target is $135 or about 70x our 2000 EPS estimate of $1.95. -- said concerns over Adobe's seasonally weak fiscal first quarter have abated and the stock has soared. -- said "with about 50 percent of sales directly linked to the growth of the Internet, we believe Adobe is only in the early stages of a rally." Shares rose 3-1/8 to 100-15/16 in late morning Nasdaq trade Tuesday.

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