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Recent antitrust decisions add to Jefferies’ confidence in Adobe buying Figma

Jefferies analyst Brent Thill notes that the firm has held onto an “out-of-consensus view” that Adobe (ADBE) will be able to close its $20B Figma acquisition. Given the recent events suggesting Microsoft (MSFT) and Activision (ATVI) and VMware (VMW) and Broadcom (AVGO) are close to completing their own respective proposed transactions, the firm says it has “even more confidence” in that view. The firm, which is bullish on the combination and believes it sets up “a higher growth and EPS accretion story,” maintains a Buy rating and $600 price target on Adobe shares.

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