BMO Capital Reiterates Outperform Rating on Adobe (ADBE)

BMO Capital analyst Keith Bachmann reiterated an Outperform rating and $515.00 price target on Adobe (NASDAQ: ADBE).

The analyst commented: "We believe the focus on Adobe’s report will be on progress towards FY25 net new ARR of $1.9 billion. We are revising our net new April Q ARR estimate to $405 million and retaining our FY25 net new ARR estimate of $1.9 billion. Our view is that investor expectations for Adobe are very low, more so than past quarters, and our bottom line is we envision the pending quarterly report more as a neutral event. We are not changing our target price, and our rating remains Outperform, largely on valuation."

For an analyst ratings summary and ratings history on Adobe click here. For more ratings news on Adobe click here.

Shares of Adobe closed at $444.78 yesterday.

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