RBC Capital analyst Matthew Swanson keeps an Outperform rating and $615 price target on Adobe after its Max event where the management highlighted the future strategic roadmap for generative AI and reviewed the accomplishments and traction they’ve had since introducing Firefly last year. No new financial targets were given as expected, but the company did share usage and adoption data as well as qualitative color that Q4 will be another “really strong quarter” despite Generative AI remaining more of a 2024-2025 benefit, the analyst tells investors in a research note.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ADBE: