Adobe Could Add Another 25% to Its Blistering Rally, Morgan Stanley Says
- Morgan Stanley upgrades stock on AI’s potential in products
- New Street-high target sees shares surging 25% over next year
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Adobe Inc.’s blistering rally has further to go, according to Morgan Stanley analyst Keith Weiss, who sees the creative software maker’s shares adding a further 25% over the next year.
Adobe has jumped over 60% this year, fueled by optimism over its artificial intelligence strategy, and Weiss’s new Street-high target of $660 sees the stock rising to within a whisker of its 2021 record of $688.37.