Piper Sandler analyst Brent Bracelin believes positive news flow on Adobe into year-end “could help drive a narrative shift for a high-quality software laggard.” The company is in the early innings of a new product cycle where artificial intelligence could turn from a perceived headwind into a tailwind, the analyst tells investors in a research note. The firm recommends large-cap growth investors revisit Adobe based on a favorable risk/reward with 28% upside to its $635 price target and a bull-case scenario of $705 per share. Piper lists ten reasons to buy the stock, including “underappreciated” product tailwinds, strong Express adoption, an accelerating internal pace of innovation and being in company’s India monetization being in the “early innings.”
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