Read Why Mizuho Re-rated Adobe Ahead Of Its 2Q Earnings - Adobe (NASDAQ:ADBE)

Adobe Inc (NASDAQ:ADBE) will report its 2Q results on June 16, Mizuho analyst Gregg Moskowitz noted.
Despite a higher level of macro uncertainty, Moskowitz's ADBE checks surprisingly were somewhat better this quarter and expected it to report a solid upside to Mizuho/Street estimates.
More broadly, Moskowitz believed ADBE is well-positioned to benefit from digital transformation with the highly comprehensive end-to-end offering that differentiates it from competitors and should enable it to drive more holistic sales across its clouds.
Moskowitz reiterated his Buy rating but cut the price target to $530 from $600 due to the recent contraction in comp multiples.
Price Action: ADBE shares traded lower by 7.72% at $393.52 on the last check Friday.

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