Morgan Stanley analyst Keith Weiss lowered the firm’s price target on Adobe (ADBE) to $600 from $660 and keeps an Overweight rating on the shares. A relatively inline Q1 print with no change to the full year guidance is “unlikely to shake the investor apathy,” though new disclosure of GenAI contribution is “a step in the right direction,” the analyst says. However, investors likely need a clearer roadmap at the upcoming Summit event to “garner excitement in the stock,” the analyst added.
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