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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Murrey Walker who wrote (56191)11/19/2002 4:57:31 PM
From: stockman_scott  Read Replies (1) of 65232
 
Adobe Systems price target raised to $36 at Pru (ADBE) 27.26 -0.54: Prudential raises ADBE's price target to $36 from $28, saying they think the stock's valuation is likely to approach post-bubble levels of 36x-40x earnings again in anticipation of new product launches in 2003; moreover, ADBE's revs have historically been more strongly correlated with GDP than with IT spending, so the co would likely benefit if there is an improvement in the overall economy.
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