Adobe: Jefferies confirms Buy rating

(CercleFinance.com) - Jefferies maintains its Buy rating on Adobe shares, with a target price of $700.


The broker reports that Adobe and Figma have agreed to terminate the agreement under which Adobe was to purchase Figma. As a result, Adobe will have to pay a billion dollars in termination fees.

"We had expected deal to close given success of VMW and ATVI deals, but we were wrong," the analyst admits. "We still believe competition concerns are overblown and that products are complementary".

Jefferies nevertheless believes that Adobe's creative business 'remains
strong' and points to an improved outlook, thanks to AI.


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