TD Cowen lowered the firm’s price target on Adobe (ADBE) to $420 from $470 and keeps a Hold rating on the shares following the fiscal Q3 report. Adobe’s total revenue growth decelerated to 10% and its guidance is is for 9%, the analyst tells investors in a research note. TD believes the competitive concerns are unlikely to ease post the earnings print.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADBE:
- Adobe price target lowered to $375 from $400 at UBS
- Morning Movers: Six Flags jumps as demand rises across portfolio of parks
- Adobe price target lowered to $450 from $475 at Evercore ISI
- Adobe ‘defying the narrative’ of AI posing threat, says DA Davidson
- Adobe price target lowered to $405 from $450 at BMO Capital