Adobe (ADBE) PT Raised to $570 at Jefferies

March 23, 2022 8:12 AM EDT
Get Alerts ADBE Hot Sheet
Price: $289.61 -1.82%

Rating Summary:
    26 Buy, 23 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 17 | New: 8
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Jefferies analyst Brent Thill raised the price target on Adobe (NASDAQ: ADBE) to $570.00 (from $550.00) while maintaining a Buy rating.

The analyst commented, "FQ1 delivered a small beat vs. guide, but FQ2 guide was below Street. We believe this was due to Ukraine/Russia impact, add'l small macro headwinds, and overly upbeat expectations. However, a price increase planned for late FQ2 should provide an offset. ADBE still faces moving parts N-T, though we remain favorable L-T due to leadership in creative/digital content tools, double-digit rev growth with mid-40s % op mgn, >90% subs model, and L-T digital tailwinds."

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