Key Stats for Adobe Stock

• Price change for Adobe stock in last 6 months: -29%
• $ADBE Share Price as of Jun. 8: $245
• 52-Week High: $420
• $ADBE Stock Price Target: $329

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What Happened?

Adobe (ADBE) stock slipped on Monday after TD Cowen cut its price target. The firm lowered its target to $285 from $310 while keeping a Hold rating.

The timing matters, since Adobe reports Q2 earnings on Wednesday, June 11.

TD Cowen’s worry comes down to slowing growth. The firm reviewed external data and observed a clear cooldown.

Third-party credit card data showed just 1.5% year-over-year growth, down…