Goldman Sachs: AI business yields strong growth, reiterates "buy" rating on Adobe (ADBE.US)

According to the financial news app, Goldman Sachs analyst Kash Rangan has reaffirmed a "buy" rating for Adobe (ADBE.US) and set the target price at $570. Adobe's strong performance in third-quarter revenue, profit margins, and cash flow, as well as moderate revenue guidance, have led to this rating. Despite investor doubts about the sustainability of Adobe's double-digit growth, analysts believe that artificial intelligence is a key driver that can boost annual recurring revenue in the digital media business.