PREVIEW: Adobe shares edge up ahead of results due after the bell
** Adobe Inc ADBE.O shares were up 0.3% on Thurs ahead of the computer software company's quarterly results due after the closing bell
** Analysts expect Q3 rev to rise to $5.37 bln from $4.89 bln in the yr-ago period, and expect EPS of $4.53 vs $4.09 a yr ago, according to LSEG
** Adobe has beaten analysts' expectations on earnings in all of the past eight reporting periods, per LSEG
** Adobe in June raised its rev forecast for fiscal 2024 amid robust softward demand
** Analyst recommendations on the stock include 29 "strong buy" or "buy" recommendations, eight "hold" ratings and two "sell" ratings, based on LSEG data
** The median PT on the stock is $637.50, based on LSEG data. The stock was last at $582.31
** Earlier this week, Citi raised its PT on Adobe to $621 from $550, citing pricing tailwinds
** Adobe said on Wed it will unveil a new generative AI-powered video creation and editing tool in a limited release later this year
** Including the session move, ADBE is down 2.5% YTD vs a 16.8% increase in Nasdaq .IXIC
Reporting by Caroline Valetkevitch
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