Wolfe Research lowered the firm’s price target on Adobe to $420 from $440 and keeps an Outperform rating on the shares. The company reported "strong" fiscal Q1 results and raised estimates for fiscal 2023 net new digital media annual recurring revenue and operating margins, the analyst tells investors in a research note. The company also spoke to confidence in closing the pending Figma deal, adds the firm.
Published first on TheFly
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