PREVIEW: Adobe shares up 1%; results due after the closing bell

Shares of Adobe ADBE.O are up 1.1%, with the Photoshop maker expected to report higher Q1 rev and EPS when it reports results after Wed's closing bell

Broader mkt was also higher, with Nasdaq .IXIC last up 1.4%

Analysts expect Adobe qtrly rev to rise to $5.66 bln vs $5.18 bln in the yr-ago qtr, while they see it posting adj EPS of $4.97/shr vs $4.48 a yr ago, according to LSEG

On Dec. 11, Adobe forecast fiscal 2025 rev below Wall Street estimates, suggesting to some that the company's investments to weave AI into its software were taking longer than expected to give results

Jefferies analysts, who have a "buy" rating on ADBE, write in a recent note: "Could F1Q25 act as a positive catalyst? We believe the combination of bearish sentiment and undemanding est. creates an attractive setup."

Of the 40 analysts who cover ADBE, 28 rate it a "strong buy" or "buy," 11 rate it a "hold" and one rates it a "sell," per LSEG

ADBE median PT is $600.00; stock last at $438.35

ADBE down 1.1% YTD, while Nasdaq .IXIC down 8.5% in that period