Why Adobe Stock Is Trading Lower Today
Portfolio Pulse from Ryan Gustafson
Adobe Inc. (NASDAQ:ADBE) shares are trading lower, pulling back from recent strength. The stock had moved higher following NVIDIA's earnings report, but fell over 4% ahead of Adobe's Q3 earnings report. Analysts from BMO Capital and Wells Fargo raised their price targets on Adobe to $640 and $625 respectively.
September 12, 2023 | 7:23 pm
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NEGATIVE IMPACT
Adobe's stock fell over 4% ahead of its Q3 earnings report. Despite this, analysts from BMO Capital and Wells Fargo raised their price targets on the company.
Adobe's stock fell over 4% ahead of its Q3 earnings report, indicating investor uncertainty. However, the raised price targets from BMO Capital and Wells Fargo suggest a positive outlook for the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100