Adobe Stock Price Target Cut to $460 by Oppenheimer Ahead of Q3 Earnings
Adobe Inc. (NASDAQ:ADBE) is one of the AI Stocks In The Spotlight For Investors. On September 9, Oppenheimer analyst Brian Schwartz lowered the price target on the stock to $460.00 (from $500.00) while maintaining an Outperform rating.
The rating, issued as part of a fiscal Q3 earnings preview, reflects low expectations into the earnings print considering how its valuation has “a lot of bad news.”
Nevertheless, Q3 report may not change investor sentiment and that Adobe is unlikely to offer any product or financial updates until its MAX customer conference.
“Bottom Line: Sentiment and expectations remain low on Adobe over growth concerns and with it residing in the less defensible business cohort in the AI…
