2024-05-17 09:50:08 ET
Summary
- Adobe's financial results have been strong, especially considering the large scale, with double-digit top-line growth and robust profit margins.
- The company has a strong net cash balance sheet and is directing free cash flow toward share repurchases.
- Despite concerns about long-term risks from generative AI, the stock is offering an attractive valuation.
- I am upgrading the stock to "buy."
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Adobe: Generative AI Fears Create An Opportunity (Ratings Upgrade)