Adobe’s Firefly ‘shining bright’ at Adobe Max, says BofA

BofA keeps a Buy rating and $640 price target after attending the company’s annual Adobe Max conference. The company launched a number of key new Firefly generative features, and the firm’s key takeaway is that these capabilities are more tightly woven into flagship offerings, the analyst tells investors in a research note. The emphasis for AI monetization is on proliferation and upsell, BofA states, adding that the generative credits could become meaningful component to Adobe’s growth longer term.