What's Going On With Adobe Stock?
Portfolio Pulse from Adam Eckert
Adobe Inc (NASDAQ:ADBE) shares are trading higher after the company unveiled new generative AI capabilities using Adobe Firefly in Adobe Illustrator. The first integration of Firefly, Generative Recolor, was announced at MAX London, allowing designers to experiment with colors using simple text prompts. Analysts from Morgan Stanley, Jefferies, and Evercore ISI Group raised their price targets on Adobe stock.
June 13, 2023 | 1:42 pm
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Adobe shares are trading higher after unveiling new AI capabilities in Illustrator using Adobe Firefly. Analysts raised their price targets on the stock.
The introduction of new AI capabilities in Adobe Illustrator using Adobe Firefly is a positive development for the company, as it can potentially save designers time and improve their creative process. This, combined with the raised price targets from analysts, is likely to have a positive short-term impact on Adobe's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100