Citi says Adobe (ADBE) reported a “rather low drama quarter” that was “fairly straight down the middle.” The results largely met expectations, with management reiterating full-year annual recurring revenue targets and a modest raise on revenue and earnings that was mainly due to currency, the analyst tells investors in a research note. Citi does not expect a meaningful change to the consensus narrative around artificial intelligence disruption hindering Adobe’s long-term growth. It keeps a Neutral rating on the shares with a $465 price target
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