4 big analyst picks: Adobe upgraded at BofA, 'Ahead of the curve with AI’
BofA Securities upgraded Adobe Systems to Buy from Neutral and raised its price target to $630.00 from $575.00, given the company’s potential to harness AI for substantial additional revenue in FY24.
"Adobe is ahead of the curve, and we believe that AI offerings are likely to begin driving meaningful revenue/FCF upside as soon as FY24." The bank identifies several potential avenues for AI monetization, such as offering paid subscriptions for Firefly, selling credit packs for Firefly usage, and establishing custom agreements with global brands to integrate data and LLMs with Adobe's services.Wells Fargo upgraded Hawaiian Electric Industries (NYSE:
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