Morgan Stanley Reports Solid Enterprise And Acrobat Results Fpr Adobe Systems

In a report published by Morgan Stanley, Adobe Systems ADBE saw Solid Enterprise & Acrobat results, margin upside and strong buybacks all highlighted Q1. Morgan Stanley said that ADBE also prudently de-risked Q2 for Japan, although visibility on Q2 is lower than usual and ADBE will not likely recover all slipped deals in Japan//U.S. Fed. “Further, mgmt. confirmed a CY12 Creative Suite (CS) 6 release which is later than some expected, and may pressure consensus. With estimates still volatile, and the story still transitioning, we prefer other plays on the strong application cycle like INTU and ORCL.” Adobe Systems closed yesterday at $28.14.