Morgan Stanley Sees 14% Upside In Adobe - Read Why
Benzinga
Sep. 15, 2021, 09:19 AM
- Morgan Stanley analyst Keith Weiss has raised the price target on Adobe Inc (NASDAQ:ADBE) to $736 from $610, implying a 14.1% upside, and reiterated Overweight ahead of the company's upcoming quarterly report.
- Weiss saw "an opportunity for a better than expected Q3 print." While not expecting FY22 guidance yet, he saw Adobe being capable of durable 20%-plus EPS growth.
- He rolled forward his valuation basis year to FY23 and assumed 17% revenue CAGR from FY21-FY23.
- Price Action: ADBE shares traded higher by 0.53% at $648.45 in the premarket session on the last check Wednesday.
