This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXMPED5K080_M.jpgInvestingPro subscribers got this news before anyone else. Start your 7-day trial to get on board.
Adobe (NASDAQ:ADBE) shares rose more than 3% on Friday after Wells Fargo upgraded the company to Overweight from Equal Weight with a price target of $525.00 (from $420.00), citing hope that generative artificial intelligence will prove to be a “tailwind” for the business.
The firm believes that Adobe’s competitive position is improving after a challenging year. According to the firm, the competitive environment is becoming less intense due to the introduction of Firefly, which serves as a much-needed next act for Adobe + natural extension of the company’s entrenched position within digital media.
Additionally, the firm points out that the current market favors consolidators, as organizations aim to do more with less across IT. This creates new opportunities for Adobe’s DM and DX platforms at the expense of point solutions and emerging marketing technology players.
Shares are up around 2% premarket today.
The company is set to report its Q2/23 earnings on Thursday after the market close.
Oracle (NYSE:ORCL) shares gained more than 3% premarket today after Wolfe Research upgraded the company to Outperform from Peerperform with a price target of $130.00, as InvestingPro reported in real time.
The upgrade is based on increased confidence and conviction that OCI will become the engine that accelerates top and bottom-line growth for the company over the next three years.
The company is set to report its Q4/23 earnings today after the market close.
SentinelOne (NYSE:S) shares surged more than 4% premarket today after Morgan Stanley upgraded the company to Overweight from Equalweight and raised its price target to $20.00 from $15.00.
The firm believes the market is now mispricing the inherent value of the company as a long-term share gainer and the potential for meaningful margin upside.
Raymond James upgraded Disc Medicine (NASDAQ:IRON) to Strong Buy from Outperform and raised its price target to $75.00 from $50.00.
Shares jumped more than 15% on Friday after the company presented positive initial data from the phase 2 BEACON trial of Bitopertin.
Jump on the biggest news for your portfolio amid a barrage of market headlines: Always be the first to know with InvestingPro.
Start your free 7-day trial now.
