Mizuho analyst Gregg Moskowitz lowered the firm’s price target on Adobe (ADBE) to $575 from $620 and keeps an Outperform rating on the shares. The company reported a solid fiscal Q1 but remains a “show-me story,” the analyst tells investors in a research note. However, the firm believes the earnings disclosures indicate Adobe is beginning to meaningfully monetize its generative artificial intelligence innovations. It continues to expect “solid upside” to the fiscal 2025 revenue guidance as the year unfolds.
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