UBS lowered the firm’s price target on Adobe (ADBE) to $290 from $340 and keeps a Neutral rating on the shares. Adobe reported solid fiscal Q1 results with beats on revenue, margins, and EPS, highlighting continued product strength, but several factors may keep investors cautious, including the CEO’s departure, pressure on annual recurring revenue growth as the company expands freemium offerings, and visible AI-driven disruption within the Stock segment, the analyst tells investors in a research note.
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