Adobe (ADBE) Stock: Citi Raises Price Target to $301 Ahead of Q3 Earnings
TLDR
- Citi raised its Adobe price target to $301 from $228, keeping a Neutral rating, citing higher software multiples
- Adobe is expected to beat Q3 estimates, with consensus EPS of $6.09 and revenue of $6.7B
- Citi sees Q3 as an achievable setup after Adobe cut ~$500M from its FY26 ARR guidance last quarter
- Firefly is getting more positive feedback, but Legacy Creative products are losing ground to rivals
- Risks grow into FY27 as Adobe leans more heavily on freemium-led growth strategies
Adobe reports its Q3 2026 earnings after the market close on September 10.
Citi analysts raised their price target on Adobe (ADBE) to $301 from $228 on Tuesday, while keeping a Neutral rating on the stock. The firm pointed to a broader rise in software multiples as the main reason for the bump.
The new target implies 10.4x FY28 estimated EV/FCF and 11.9x FY28 estimated GAAP P/E. Adobe currently trades at a P/E of 16.79.
Wall Street expects Adobe to report adjusted EPS of $6.09, GAAP EPS of $4.48, and revenue of $6.7B for Q3. In the same quarter last year, Adobe posted adjusted EPS of $5.31 on revenue of $5.99B.
โฆ Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
