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) - Adobe jumped on Wednesday as Jefferies upgraded the stock to a "buy" on the potential of its new Creative Cloud product.

Shares of


(ADBE) - Get Adobe Inc. Report

advanced 3% to $45.68 to extend its 2013 gain to 21%.

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The equity analysts raised the price target on Adobe shares to $57 from $45. The team, led by Ross MacMillan, anticipates earnings per share to reach $4, compared to $2.35 in 2011. "We think the stock can be worth $57 in the next 18 months," wrote MacMillan in the report.

Jefferies expects that 6.5 million users will switch to the CC program, with subscription prices settling at $40 a month. Revenue is expected to grow by 5% next year, and increase 15% in 2015. These customers will bring in $3.6 billion dollars in Creative revenue.

While Creative Cloud is only starting to gain traction with consumers, Adobe may take on even more customers in the coming months. Creative sources only brought in $2.3 billion in the 2012 fiscal year, the rise illustrate a 50% penetration of non-enterprise users and 10% new adobe consumers. Approximately 1 million subscribers have started using adobe products since the transition.

Written by Robert Arenella in New York

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Robert Arenella