Oppenheimer upgraded Adobe to Outperform from Perform with a $660 price target. The analyst sees strengthening business momentum, a favorable outlook for fiscal 2024, and “durable growth” for Adobe based on positive fundamental trends and its top position in software for the generative artificial intelligence opportunity gleaned from the firm’s customer and industry surveys. Adobe investors will be rewarded through yearend and next fiscal year as concerns on penetration, pricing tolerance, and generative AI weakening the competitive moat dissipates, the analyst tells investors in a research note.
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:
- Davidson upgrades Adobe to Buy with new AI features driving growth
- Adobe upgraded to Buy from Neutral at DA Davidson
- SAP price target raised to $147 from $140 at BMO Capital
- Citi Says It’s Impressed with Adobe’s Upcoming (NASDAQ:ADBE) Products
- Adobe unveils generative AI-powered editing engine Project Stardust
