Adobe price target raised to $610 from $570 at Citi

Citi raised the firm’s price target on Adobe to $610 from $570 and keeps a Neutral rating on the shares. The analyst says a much higher beat versus historicals in Q3 suggests Adobe’s core business trends continue to be resilient, with flattish trends in Creative suite and continued strength in Document Cloud. However, with the stock up 64% year-to-date, Citi keeps a Neutral rating on the shares.