KeyBanc downgraded Adobe (ADBE) to Underweight from Sector Weight with a $310 price target The firm adjusted ratings in the enterprise software as part of its 2026 outlook. It has has a preference for small- and mid-cap software over large-caps heading into next year. KeyBanc’s survey work shows Adobe’s competitive pressures have been picking up and will continue to weigh on shares and the multiple, the analyst tells investors in a research note.
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