美银证券发表研究报告指，Adobe第四季业绩及前景好坏参半。期内，新增数位媒体年度经常性收入达5.72亿美元，超出公司指引2,200万美元，但表现低于第三季。另外，集团对2025财年的总收入及数位媒体业务收入增长指引分别约为9%及10%，低于该行预期的11%。

另外，美银证券指出，Adobe的利润前景令人失望，集团对2025财年的利润率指引为46%，低于该行预测的46.9%。然而，该行相信，由于下半年的收入或会加速，带动全年利润率按年恢复扩张。

该行将集团目标价由640美元下调至605美元，惟重申“买入”评级，相信公司增长将有改善。

海量资讯、精准解读，尽在新浪财经APP

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.