DA Davidson raised the firm’s price target on Adobe (ADBE) to $500 from $450 and keeps a Buy rating on the shares. The company’s fiscal Q2 results were better than expected and increased pipeline visibility into the second half of fiscal 2025 gave management the confidence to modestly raise guidance, the analyst tells investors in a research note. The firm says Adobe’s artificial intelligence contributions are tracking above internal expectations as the company continues to embed generative AI within its product suite. DA continues to view Adobe as a long term beneficiary of AI, which it does not believe is fully priced into the stock.
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