Stifel lowered the firm’s price target on Adobe (ADBE) to $450 from $480 and keeps a Buy rating on the shares ahead of the company’s fiscal Q4 results. While it is “no secret” that a key overhang for the stock has been the belief that AI will be a disruptive force to creative departments, the firm believes the company has made positive strides over the past year, particularly at MAX in October, improving its positioning in and messaging around Generative AI, the analyst tells investors in a preview.
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