JP Morgan Maintains Neutral on Adobe, Lowers Price Target to $570
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Mark Murphy has maintained a Neutral rating on Adobe (NASDAQ:ADBE) and lowered the price target from $600 to $570.
March 15, 2024 | 10:08 am
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NEGATIVE IMPACT
Adobe's price target was reduced from $600 to $570 by JP Morgan, while maintaining a Neutral rating.
A reduction in the price target by a major financial institution like JP Morgan can lead to a negative short-term sentiment among investors, potentially causing a decrease in Adobe's stock price. The maintenance of a Neutral rating indicates that the analyst sees limited upside or downside potential from the current price level, which might not be enough to counteract the negative impact of the lowered price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100