Adobe price target raised by $50 at Mizuho, here’s why

Mizuho analyst Gregg Moskowitz raised the firm’s price target on Adobe to $680 from $630 and keeps a Buy rating on the shares ahead of the company’s fiscal Q4 report next Wednesday. Despite the macro environment, channel checks indicate Adobe’s demand remains healthy, including among enterprises, the analyst tells investors in a research note. In addition, web traffic continues to be strong, says the firm, which expects “good upside” to Adobe’s net new Digital Media annual recurring revenue.