TD Cowen Maintains Outperform on Adobe, Lowers Price Target to $640
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Derrick Wood maintains an Outperform rating on Adobe (NASDAQ:ADBE) but lowers the price target from $650 to $640.

March 15, 2024 | 4:47 pm
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NEUTRAL IMPACT
Adobe's Outperform rating is maintained by TD Cowen, though the price target is reduced from $650 to $640.
The maintenance of an Outperform rating suggests a positive outlook on Adobe's performance, indicating confidence in the company's future prospects. However, the reduction in the price target, albeit slight, could reflect a minor adjustment in expectations regarding Adobe's future financial performance or market position. This mixed signal might lead to a neutral short-term impact on Adobe's stock price as investors weigh the positive rating against the slightly lowered price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100