DA Davidson lowered the firm’s price target on Adobe (ADBE) to $450 from $600 and keeps a Buy rating on the shares as part of a broader research note updating estimates within the firm’s coverage of the Software group. The firm is now assuming a base case of one or two quarters of negative GDP in the US this year, which will translate to lower growth and has already translated to lower valuations, the analyst tells investors in a research note. DA Davidson adds that regardless of how the current tariff regime plays out, it sees a slowdown in consumer activity and corporate investment, at least for the next couple of quarters.
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Read More on ADBE:
- Adobe price target lowered to $480 from $530 at RBC Capital
- Amaze expands partnership with Adobe Express
- Adobe price target lowered to $590 from $650 at Jefferies
- Adobe’s Strong Financial Performance and Strategic Positioning Justify Buy Rating with Target Price of USD660
- Adobe (ADBE) CFO Buys Company Stock as Share Price Declines
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