On June 15, Guolonhui reported that Adobe (ADBE.US) surged by 14.51% to $525.31, with a total market value of $235.3 billion. According to the news, Adobe announced a quarterly revenue of $5.31 billion, a year-on-year increase of 10%, slightly higher than the company's expected range of $5.25 billion to $5.3 billion, and higher than FactSet's consensus forecast of $5.29 billion; the adjusted earnings per share were $4.48, higher than Adobe's expected $4.35 to $4.4 and the Wall Street consensus forecast of $4.39. The company expects full-year revenue to be between $21.4 billion and $21.5 billion, higher than the previous forecast of $21.3 billion to $21.5 billion. The expected full-year adjusted earnings per share are between $18 and $18.2, higher than the previous range of $17.6 to $18. JPMorgan maintained an overweight rating on Adobe and raised its target price from $675 to $700; Citigroup raised Adobe's target price from $529.00 per share to $550.00 per share; and Wells Fargo & Co upgraded Adobe from neutral to shareholding after the earnings announcement.
美股异动丨Adobe大涨14.51%，绩后获多家大行上调目标价
U.S. stock market anomaly | Adobe surged 14.51%, multiple large banks raised target price after performance report.
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