Adobe (ADBE) PT Raised to $570 at Jefferies
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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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