BMO Capital lowered the firm’s price target on Adobe (ADBE) to $515 from $570 and keeps an Outperform rating on the shares. The firm’s Creative Cloud Survey data is mixed for Adobe, the analyst tells investors in a research note. On the positive side, users indicated a willingness to pay more for generative AI enhanced solutions, and a willingness to pay for consumption, but on the negative side, competition is increasing, particularly with enterprise customers, as well as students, BMO stated.
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