Adobe's Product Differentiation And Generative AI: Analyst Forecasts Future Growth Opportunities
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Keith Bachman reiterated an Outperform rating on Adobe Inc. (NASDAQ:ADBE) with a price target of $645. Bachman believes Adobe's Creative Cloud's competitive differentiation and growth opportunities, aided by generative AI capabilities, will be the focus at the upcoming MAX conference. He also expects discussions on Document Cloud and Experience Cloud, highlighting future growth opportunities. Bachman sees Adobe's FY23 Adjusted EPS at $15.91 with revenues of $19.361 billion, and FY24 Adjusted EPS at $17.67 with revenues of $21.482 billion.
October 06, 2023 | 6:41 pm
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Adobe Inc. (NASDAQ:ADBE) has been reiterated an Outperform rating by BMO Capital Markets analyst Keith Bachman with a price target of $645. The analyst sees growth opportunities in Adobe's Creative Cloud, Document Cloud, and Experience Cloud, aided by generative AI capabilities.
The analyst's positive outlook on Adobe, including the Outperform rating and high price target, indicates a strong belief in the company's growth potential, particularly in its Cloud services. This is likely to have a positive impact on Adobe's stock in the short term.
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