01:18 PM EDT, 08/01/2024 (MT Newswires) -- Adobe (ADBE) is "well-positioned" as a long-term beneficiary of generative artificial intelligence, RBC Capital Markets said in a note.

The firm said it hosted a chat with Adobe Vice President of Investor Relations Jonathan Vaas to discuss various topics, including generative AI and the company's long-term strategic outlook.

"We came away feeling good about the opportunity of the expanded product set in the H2 with a stable macro environment and various levers to monetize [generative AI] as the next catalyst including additional disclosures," RBC said in a note Wednesday.

The firm said that Adobe's creative and experience cloud offerings offer comprehensive solutions within the business sector, with the company's leadership emphasizing its approach to utilizing its creative platform to broaden its application for editing.

The company's management is still determining precisely what they view as GenAI contributions, adding that there has been a significant advancement in establishing a definitive GenAI metric, according to the note.

RBC maintained the company's outperform rating and $600 price target.

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