Adobe price target raised to $385 from $382 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Adobe to $385 from $382 and keeps an Equal Weight rating on the shares, stating that the company’s fiscal Q1 results show "solid execution in a difficult spending environment." However, at what "otherwise would seem to be an attractive entry point," uncertainty on closing the Figma deal "likely muddies the waters for investors," the firm contends.