DA Davidson sees generative AI as catalyst for connecting Adobe applications

DA Davidson analyst Gil Luria keeps a Neutral rating and $350 price target due to the FIGMA acquisition uncertainty. The analyst states however that the firm is "incrementally positive" on Adobe’s progress in its long-term platform vision and views generative AI as a catalyst for interconnecting the different applications within the ecosystem after attending the company’s Adobe Summit this week and speaking with its management, customers, and partners on recent product innovations.