
Adobe Inc (ADBE) generated strong free cash flow (FCF) and FCF margins in its latest quarterly report. Even after Friday's huge runup, ADBE stock still has a 22% upside over the next year. Shorting OTM puts could be a good play here.
ADBE rose 14.5% to $525.31 on Friday, June 14, after the company released its fiscal Q2 earnings on June 13. However, ADBE stock could have at least a 22% upside over the next year to $640 per share.