ADBE - Soaring Adobe Stock Could Still Climb About 33% According to 1 Wall Street Analyst. Is It Time to Buy?
2024-06-16 05:56:00 ET
Shares of Adobe (NASDAQ: ADBE) shot about 14% higher on June 14. Investors were responding to a positive fiscal fourth-quarter earnings report.
Adobe's latest round of results suggests the software giant has what it needs to monetize generative artificial intelligence (AI) applications. Nearly all sell-side analysts on Wall Street raised their price target on the stock.
Wells Fargo analyst Michael Turrin raised his bank's price target on Adobe to $700 from $675 per share. The new target suggests it can deliver a 33% gain once the rest of the market sees Adobe in the same light.
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Soaring Adobe Stock Could Still Climb About 33%, According to 1 Wall Street Analyst. Is It Time to Buy?