Shulou(Shulou.com)11/24 Report--

On the evening of July 31, Beijing time, Morgan Stanley analyst Keith Weiss believes that the strong rally in Adobe shares is likely to continue, and the share price is expected to rise another 25% in the coming year.

Adobe's share price has risen 57 per cent this year because of investor optimism about its AI strategy, while Weiss's current target price is $660, similar to its record $688.37 in 2021.

Weiss wrote in a report: "A clearer understanding of AI products and monetization roadmaps has increased our confidence to re-accelerate the creative cloud technology organic growth engine. Weiss raised its rating on Adobe shares from holding to overweight.

Last month, Adobe introduced a generative AI feature in its products, raising its full-year revenue and profit forecasts. Weiss predicts that Adobe's revenue growth will improve over the next three years.

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