Adobe price target raised to $675 from $610 at Argus

Argus raised the firm’s price target on Adobe to $675 from $610 and keeps a Buy rating on the shares after the “upside surprise” in its Q4 results. The company offers an admirable track record of innovation and a unique collection of software assets centered on its Creative Cloud tools, which enable both professional and amateur users to create and manage digital content, the analyst tells investors in a research note. Adobe should be able to continue to ramp up investment in new product extensions, particularly around generative AI, as it pursues a rapidly expanding total addressable market, the firm states, adding that it sees the company’s consistently strong revenue growth, high margins, and earnings momentum as “strong positives”.