Adobe analyst day ‘light on numbers, big on vision,’ says Morgan Stanley

Morgan Stanley analyst Keith Weiss says Adobe’s analyst day was “big on vision,” despite being “light on numbers.” While estimates don’t move coming out of the analyst day, the breadth and depth of new innovation and the customer reactions to those innovations at the MAX conference “do buttress our confidence numbers will be moving higher in short order,” added the analyst, who sees Adobe as “a core GenAI winner in software” and keeps an Overweight rating and $660 price target on the shares.