Evercore ISI Group Maintains Outperform on Adobe, Lowers Price Target to $650
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group analyst Kirk Materne maintains an Outperform rating on Adobe (NASDAQ:ADBE) but lowers the price target from $700 to $650.

March 15, 2024 | 12:44 pm
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NEUTRAL IMPACT
Evercore ISI Group maintains an Outperform rating on Adobe but lowers the price target from $700 to $650.
The adjustment in price target by Evercore ISI Group, while maintaining an Outperform rating, suggests a positive outlook on Adobe's fundamentals but acknowledges external factors or recent performance that might have led to a more conservative price target. This could lead to a neutral short-term impact on Adobe's stock as the market digests the implications of a lower price target against the backdrop of continued analyst confidence.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100