Barclays reiterated an Overweight rating and $567 price target on Adobe (ADBE) after the company introduced its public video beta through new tiered offerings Firefly Standard and Firefly Pro. Since this is early access pricing, we could soon see the credits per video be increased, the analyst tells investors in a research note, adding that the announcement is a “step in the right direction.” The firm noted that Firefly can now be monetized as part of a Creative Cloud subscription, and while it’s early to say how much this could contribute, it could help improve sentiment on this name.
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