Adobe price target raised to $350 from $320 at UBS

UBS analyst Karl Keirstead raised the firm’s price target on Adobe to $350 from $320 and keeps a Neutral rating on the shares ahead of its Q4 results this week. The analyst notes that his recent conversations with partners and customers suggest "stability" rather than "material deceleration" in the quarter in spite of the apparent macro demand pressure. The feedback tilted his conclusion that Adobe is likely to meet, not miss, the Street’s consensus for Q4 results and Q1 targets, Keirstead tells investors in a research note.