Adobe, The Secret AI Play? Why This Analyst Just Bumped Up Price Target
Portfolio Pulse from Shanthi Rexaline
Piper Sandler analyst Brent Bracelin maintains an Overweight rating on Adobe Systems (NASDAQ: ADBE) and raises the price target from $415 to $500, citing new AI features in creative apps and strong demand metrics.
June 08, 2023 | 12:41 pm
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Piper Sandler analyst raises Adobe's price target to $500, citing new AI features in creative apps and strong demand metrics.
The analyst's optimism is based on the accelerating pace of innovation with new AI features being integrated into Adobe's products, such as Acrobat, Express, Photoshop, and Premiere Pro. Additionally, strong third-party data indicates improving Adobe.com demand metrics, with a 20% YoY increase in average monthly active users. This positive outlook is likely to have a short-term positive impact on Adobe's stock price.
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