Adobe Joins The AI Party With A Bang — And These Analysts Turn Bullish
Portfolio Pulse from Priya Nigam
Adobe Inc (NASDAQ:ADBE) shares slid in early trading despite positive analyst ratings. Oppenheimer's Brian Schwartz upgraded Adobe from Perform to Outperform with a price target of $660, citing strengthening business momentum and a favorable outlook for fiscal 2024. DA Davidson's Gil Luria upgraded the rating to Buy and raised the price target from $500 to $640, adding Adobe to the firm's 'Best-of-Breed Bison' list.
October 26, 2023 | 5:05 pm
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Adobe Inc (NASDAQ:ADBE) received upgraded ratings from Oppenheimer and DA Davidson, with price targets of $660 and $640 respectively. Despite this, shares slid in early trading.
The upgraded ratings and increased price targets from Oppenheimer and DA Davidson indicate a positive outlook for Adobe. However, the early trading slide suggests market factors beyond the analyst ratings are influencing the stock price. The overall impact is likely to be positive in the short term as the market absorbs the analyst upgrades.
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IMPORTANCE 80
RELEVANCE 100