Oppenheimer lowered the firm’s price target on Adobe (ADBE) to $430 from $460 on lower group multiples, while keeping an Outperform rating on the shares. The firm notes Adobe’s Q4 results and FY26 revenue guidance were above consensus estimates. Positively, the AI-derived ARR demonstrated strong growth and exceeds $8B. Negatively, FY26 guidance implies high single-digit revenue growth and down operating margins, which leave tough optics. In Oppenheimer’s view, Q4 results show a good quarter for Adobe’s business, but also are unlikely to catalyze new opinions on the stock.
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Read More on ADBE:
- Adobe price target lowered to $400 from $420 at TD Cowen
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