Barclays analyst Saket Kalia raised the firm’s price target on Adobe to $340 from $330 and keeps an Equal Weight rating on the shares. The company’s fiscal Q4 results were "right down the middle" with net new annual recurring revenue beating, and fiscal 2023 guide staying unchanged, Kalia tells investors in a research note. The Figma transaction is progressing as expected, and Adobe is confident it will close in 2023, adds the analyst.
Published first on TheFly
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