Adobe price target raised to $625 from $600 at TD Cowen

TD Cowen analyst J. Derrick Wood raised the firm’s price target on Adobe to $625 from $600 and keeps an Outperform rating on the shares. The analyst is impressed by the upside in Digital Media and says Adobe is now in clear “AI winner” territory. After a six month beta, the company launched four new generative artificial intelligence products this week, the analyst tells investors in a research note.