Adobe added as new long idea at Hedgeye
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Adobe (NASDAQ:ADBE) was added as a new long idea at Hedgeye with potential 20% + upside.
“Adobe (ADBE) is already the undisputed creative leader of the world, but there is juice in the tank if it can execute its AI strategy,” Hedgeye analyst Felix Wang wrote in a note on Thursday. “We’re confident AI will not be a headwind for Adobe, contrary to some investors’ thinking.”
It appears that Firefly GenAi’s integration value is being “underappreciated,” according to Wang.
“While much of the analysts focus on enterprises’ monetization, we’re more excited about the prospects of AI to broaden Adobe’s appeal beyond paying enterprise customers in terms of adoption,” Wang added.
Hedgeye’s Wang also sees evidence that Digital Experience growth may accelerate in FQ3.
Adobe (ADBE) is set to report Q4 results on Sept. 12.