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ADBE / Adobe stock receives target price boost as company sheds “AI loser” label

UBS analysts have increased their 12-month target price on shares of Adobe Inc from $370 to $440 on Monday, saying that after speaking with customers and other checks to gauge the artificial intelligence (AI) impact they conclude that the company's Firefly AI art generator is likely to end up as a net positive for the software provider. “In our view much of (the stock's) out-performance (Adobe shares are up 24% over the last two weeks) has been driven by a reversal of AI concerns (from an “AI loser” to AI being neutral if not a tailwind for Adobe),” the analysts wrote. Read More

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Posted: May 30 2023, 15:51

Author Name: Proactive Investors

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