HSBC Initiates Coverage On Adobe with Hold Rating, Announces Price Target of $519
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Stephen Bersey initiates coverage on Adobe (NASDAQ:ADBE) with a Hold rating and announces a price target of $519.
September 29, 2023 | 10:33 am
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HSBC has initiated coverage on Adobe with a Hold rating and a price target of $519.
The initiation of coverage by HSBC with a Hold rating suggests that the bank sees Adobe's stock as fairly valued at current levels. The price target of $519 indicates where HSBC believes the stock will trade in the near future. This news could influence investors' decisions, but it's not likely to cause significant price movement in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100