BMO Capital Markets analyst Keith Bachman reiterated the Outperform rating on Adobe Inc. (NASDAQ: ADBE), raising the price target to $670 from $645.
The analyst writes that Adobe is a market leader in its three core product categories: Creative Cloud, Document Cloud, and Experience Cloud.
According to Bachman, AI and Adobe Express can help net new ARR and growth for the company.
Adobe, along with Microsoft Corporation (NASDAQ: MSFT), will be one of the clear beneficiaries of generative AI into FY24, the analyst adds, after spending some time with Adobe senior leadership.
Adobe will ...