20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of Adobe Inc (NASDAQ:ADBE) continued to slide in early trading on Thursday, despite the company faring well against competitors.
Oppenheimer On Adobe
Analyst Brian Schwartz upgraded the rating from Perform to Outperform while initiating a price target of $660.
Adobe’s business momentum was strengthening and its outlook for fiscal 2024 was favorable, Schwartz said in the upgrade note. The company also had “a top position in software for the generative AI opportunity gleaned from our customer and industry surveys,” he added.
“In our view, Adobe investors will be rewarded through year-end and next fiscal year as concerns on penetration, pricing tolerance, and generative AI weakening the competitive moat dissipates,” the analyst wrote.
“Additionally, investors will increasingly appreciate that its internal R&D and Firefly product strategy has successfully re-energized its product portfolio and places the company in a better position for durable growth from adding users and monetizing on its large install-base” he further stated.
Check out other analyst stock ratings.
DA Davidson On Adobe
Analyst Gil Luria upgraded the rating to Buy while lifting the price target from $500 to $640.
Adobe was added to DA Davidson’s “Best-of-Breed Bison” list, Luria said in the upgrade note.
The company “fits all of the 12 evaluation criteria” that determine the “Best-of-Breed Bison” list, “including its position as a market leader in a >$200B FY’24 TAM, robust & predictable revenue streams, sustainable competitive advantage, exceptional financials, a powerful brand, and a shareholder-oriented management team,” the analyst added.
ADBE Price Action: Shares of Adobe had declined by 1.74% to $512.08 at the time of publication Thursday.
Read Next: Adobe's $20B Figma Deal Deadline Extended - What's Going On?
Photo: Shutterstock
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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