Citi analyst Tyler Radke lowered the firm’s price target on Adobe (ADBE) to $253 from $287 and keeps a Neutral rating on the shares. The firm is “turning more selective” in the application software group with six downgrades and price target cuts. These reflect Citi’s view to underweight software, the analyst tells investors in a research note. The firm sees a lack of catalysts for the stocks over the next 12 months.
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