Adobe scores pair of upgrades; Microsoft called a buy on Q3: 4 big analyst picks
Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Microsoft, Adobe, Snap, and Live Nation Entertainment.
The analysts believe investors"will be rewarded through yearend and next fiscal year as concerns on penetration, pricing tolerance, and generative AI weakening the competitive moat dissipates." The analysts said the addition to the"Best-of-Breed Bison" list was based, among other things, on"its position as a market leader in a >$200B FY’24 TAM, robust & predictable revenue streams, sustainable competitive advantage, exceptional financials, a powerful brand, and a shareholder-oriented management team.
While shares initially jumped as much as 20% in after-hours trading on Tuesday following the company’s Q3 report, they closed with more than a 5% loss the next day following cautious commentary during the earnings call, especially about a slowdown in ad spending affecting the company’s current quarter sales.) shares rose more than 1% pre-market today after Evercore ISI upgraded the company to Outperform from In Line with a price target of $100.00.
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