Oppenheimer Provides Color on Adobe Systems, Perform

Oppenheimer provided color on Adobe Systems ADBE. In a research report published today, Oppenheimer stressed that even though the company is well managed, there seems to be a lack of expansion opportunities in the near term. In the report, Oppenheimer states, "Despite a challenging macro backdrop and heavy exposure to Japan, ADBE delivered a solid 2Q11. Although Northern Europe was well below management's expectations, ADBE was able to more than offset this weakness as Japan held up much better than anticipated... While we believe ADBE is a well run organization, given modest growth opportunities in its core CS business and limited margin expansion on the horizon due to aggressive hiring, we do not expect any meaningful multiple expansion in the near term." At the moment, Oppenheimer has a Perform rating placed on the company's stock. On Tuesday, Adobe added 3.42% to its value to finish the day at $32.01. Its shares lost most of yesterday's gains in today's pre-market trading, however, falling 3.16% to $31.