Revising Adobe Price to $80

Though the company continues to roll out new products and enhancements for its existing portfolio, the pace of consumer adoption, especially in Creative Cloud division, has slowed down. The rise in stock price has been meteoric over the past two years, when it rallied from $38 in 2013 to over $80 at present. We have recently revised our price target from $70 to $80 on the basis that the company has significantly improved its Creative Cloud offering by extending functionality to mobile developers...