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Adobe Systems (ADBE) NewsBite - ADBE Trading Up Over 1% On Strong Broker Recommendation

Oct 29, 2009 (Fresh Brewed Media via COMTEX) --

Companies: Adobe Systems, Inc. (ADBE), Morgan Stanley (MS)

Adobe Systems (NasdaqNM: ADBE) opened at $33.06. So far today, the stock has hit a low of $32.70 and a high of $33.28. ADBE is now trading at $33.25, up $0.42 (1.28%). The stock hit its 52-Week high of $35.95 earlier this month and set its 52-Week low of $15.70 in February. Morgan Stanley resumed coverage of the stock today with an Overweight rating, and set a $40 price target on the shares. Technical indicators for the stock are neutral and S&P gives ADBE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ADBE the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 27.50 range.

ABR-Seven Summits Strategic Investments NewsBite Goto www.iotogo.com/18w1 for our free report titled, The 18 Ways To Know When It's Time To Dump A Stock

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News Provided by COMTEX

Companies: Adobe Systems, Inc. (ADBE), Morgan Stanley (MS)


Related terms: broker, S&P

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