- Morgan Stanley analyst Keith Weiss has raised the price target on Adobe Inc (NASDAQ:ADBE) to $736 from $610, implying a 14.1% upside, and reiterated Overweight ahead of the company’s upcoming quarterly report.
- Weiss saw “an opportunity for a better than expected Q3 print.” While not expecting FY22 guidance yet, he saw Adobe being capable of durable 20%-plus EPS growth.
- He rolled forward his valuation basis year to FY23 and assumed 17% revenue CAGR from FY21-FY23.
- Price Action: ADBE shares traded higher by 0.53% at $648.45 in the premarket session on the last check Wednesday.
PerkinElmer Q4 EPS $1.70 Beats $1.62 Estimate, Sales $1.09B Beat $1.04B Estimate
PerkinElmer (NYSE: PKI) reported quarterly earnings of $1.70 per share which beat the analyst consensus estimate of $1.62 by 4.94 percent. This is a 33.59 percent decrease over earnings of $2.56 per share from the same period last year.
