Deutsche Bank analyst Brad Zelnick raised the firm’s price target on Adobe to $430 from $400 and keeps a Buy rating on the shares. The company reported solid fiscal Q4 results with net new digital media annual recurring revenue above guidance and Street expectations, driven by broad momentum across all segments, Zelnick tells investors in a research note. While Figma remains an overhang on the shares, management expressed confidence in a 2023 close despite expected reviews across regulatory agencies, says the analyst.
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