Melius Research Downgrades Adobe to Hold, Announces $510 Price Target
Portfolio Pulse from Benzinga Newsdesk
Melius Research has downgraded Adobe (NASDAQ:ADBE) from Buy to Hold, with a new price target of $510.
June 10, 2024 | 10:51 am
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Melius Research has downgraded Adobe from Buy to Hold, with a new price target of $510. This downgrade may lead to a short-term negative impact on Adobe's stock price as investors react to the revised rating and price target.
The downgrade from Buy to Hold by Melius Research suggests a less optimistic outlook for Adobe's stock. The new price target of $510 is likely to influence investor sentiment negatively in the short term, leading to potential selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100