Why This Adobe Analyst Is 'More Positive On AI'
Portfolio Pulse from Priya Nigam
Adobe Inc's (NASDAQ: ADBE) stock fell slightly after Q2 results, but BMO Capital Markets analyst Keith Bachman upgraded the company's rating from Market Perform to Outperform and raised the price target from $500 to $570. Bachman believes Adobe is well positioned to capture price/mix and new users through generative artificial intelligence (AI), which can potentially increase prices of existing solutions and help with retention in enterprise.
June 21, 2023 | 4:17 pm
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Adobe's stock fell slightly, but BMO analyst upgraded the rating and raised the price target, citing potential growth through generative AI.
The stock fell slightly after Q2 results, but the BMO analyst's upgrade and raised price target indicate a positive outlook for Adobe. The company's potential growth through generative AI can increase prices of existing solutions and help with retention in enterprise, which would positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100