BMO Capital raised the firm’s price target on Adobe (ADBE) to $670 from $645 and keeps an Outperform rating on the shares after meeting with its senior leadership. Along with Microsoft (MSFT), Adobe is seen as one of the clear beneficiaries of generative AI moving into FY24, the analyst tells investors in a research note, noting that the firm has incremental confidence in the company’s growth potential over the next few years.
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