Hedge Funds Celebrate Adobe’s Surge

The software giant is the 24th-most widely held hedge fund stock, according to Novus.

(Daniel Acker/Bloomberg)

(Daniel Acker/Bloomberg)

One of the most popular hedge fund stocks enjoyed a big price bump this week after it reported much better quarterly results than Wall Street was expecting.

In response, a slew of investment banks boosted their price target for the stock.

Software giant Adobe Systems Wednesday surged 5.2

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