Argus analyst Joseph Bonner keeps a Buy rating and $675 price target on Adobe after its Q3 earnings beat las tweek. The company will continue to ramp up investment in new product extensions, particularly around generative AI, as it pursues a rapidly expanding total addressable market, and while the loss of the Figma deal was certainly a disappointment, some investors breathed a sigh of relief given the steep purchase price, the analyst tells investors in a research note. Argus adds that Adobe’s consistently strong revenue growth, high margins, and earnings momentum are “strong positives”.
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