Morgan Stanley Sees 14% Upside In Adobe - Read Why - Adobe (NASDAQ:ADBE)

Morgan Stanley analyst Keith Weiss has raised the price target on Adobe Inc 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.

Momentum23.52

Growth62.79

Quality61.31

Value16.74

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Medium

Long

Morgan Stanley Sees 14% Upside In Adobe - Read Why