Lastly, the introduction of Firefly Vector for Adobe Illustrator and generative AI-powered enhancements in Premier Pro underscore Adobe’s innovative strides in the AI space. The release of the new Firefly Image 2 model, which generates higher quality images and offers new photo editing capabilities, also contributes to Adobe’s competitive edge. The value of AI capabilities was appreciated across a range of use cases including image, vector graphic, and video editing, highlighting the breadth of Adobe’s Creative Cloud. In addition, Sills cited feedback from over a dozen customers and partners at the conference which suggested that the price increase for Firefly was justifiable in view of the productivity gains it offers. Moreover, Firefly’s strong run rate and its scheduled November 1 commercial launch indicate that it is likely to exceed the estimated credit pack threshold, potentially driving significant upside to the forecasted net new digital media ARR of $2.05 billion for H2FY24. This includes the Firefly 2 LLM which boasts improved fidelity and detail, AI-powered photo settings, and Generative Match enhancements. Firstly, he is impressed by Adobe’s robust AI offerings that were showcased at the Adobe Max conference. Analyst Bradley Sills from Bank of America Securities maintained the rating on the stock to a Buy and gave it a $660.00 price target.īradley Sills has given his Buy rating for Adobe’s stock due to several compelling reasons. ![]() Adobe ( ADBE – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday.
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