BUZZ-Street View: Firefly to boost Adobe's growth

** Photoshop software maker Adobe ADBE.O forecast current-quarter profit above Wall Street estimates on Thursday, after beating 3Q revenue estimates on strong demand for its photo, video editing and document tools with generative AI integrations

** Shares down 2.3% at $539.63 premarket

AI TAILWIND

** J.P.Morgan ("," PT: $530) impressed by ADBE's execution given macro environment, fast pace of innovation

** Goldman Sachs ("buy," PT: $625) continues to see co as a beneficiary of generative AI

** "We anticipate initial traction from users over the coming months, with the price increase's impact gradually flowing through the model over the 3 years" - GS

** Jefferies ("buy," PT: $660) says Firefly AI will likely drive a multi-year tailwind

** D.A.Davidson ("," PT: $500) says ADBE is "broadening top of the funnel through AI innovation"

** UBS ("," PT: $600) does expect material churn given ADBE's "sticky product"

** Says clear why co opted for umbrella price increase instead of monetizing Firefly separately

(Reporting by Subhadeep Chakravarty in Bengaluru)

((subhadeep.chakravarty@thomsonreuters.com))