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Technology Stocks : Adobe (adbe) opinions -- Ignore unavailable to you. Want to Upgrade?

To: Mark Palmberg who wrote (2694)	8/16/1999 8:09:00 PM
From: Doughboy	Respond to of 3111

Adobe at 90+. Sheesh, too rich for my blood. I lightened up a bit on my investment. Sold some at 92 (Am going to buy myself a new VW; 6 mos. ago, it would have been a used Pontiac :o)). I think that there is a transition taking place, where the Street is starting to think about giving Adobe a better multiple on the stock, but I'm afraid that the transition has not been completed yet (look at all the 12 month price targets of 90-100), and all the background noise from the Fed and maybe an an autumn tech swooon might short circuit this transition in valuation. IMO Adobe deserves a multiple of 40x '99 earnings, but the analysts seem to only want to give it 25-30x. Doughboy.