Adobe Stock Gets a Buy Rating Ahead of Earnings. AI Is Just One Reason.

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

The upgrade comes ahead of the company's fiscal third-quarter earnings results

A Mizuho analyst boosted his rating on Adobe stock to Buy, citing demand for the software provider’s artificial intelligence tools and improved fundamentals.

Since June, analysts at UBS, BofA Global Research, and Wells Fargo have all boosted their target price on shares. BofA and Wells Fargo also upgraded their rating on shares to Buy. The average analyst price target on shares is $561.93, according to FactSet. The upgrade is also “a function of accelerating web traffic, an improving pipeline and likelihood of a return to larger deals,” he added.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market News Today: Dow Falls More Than 200 Points; AMC Stock in FocusLive coverage of what's moving stocks and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Source: WSJ - 🏆 98. / 63 Read more »