Adobe shares are trading lower following Q3 earnings. Also, Bernstein maintained an Outperform rating on the stock but lowered its price target from $660 to $644.
Portfolio Pulse from Benzinga Newsdesk
Adobe shares declined after Q3 earnings, with Bernstein maintaining an Outperform rating but lowering the price target from $660 to $644.
September 13, 2024 | 11:28 am
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Adobe's stock is trading lower following its Q3 earnings report. Bernstein has maintained an Outperform rating but reduced the price target from $660 to $644, indicating a slightly less optimistic outlook.
The decline in Adobe's stock price is directly linked to the Q3 earnings report, which may not have met market expectations. Additionally, Bernstein's decision to lower the price target, despite maintaining an Outperform rating, suggests a tempered outlook, contributing to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100