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Adobe price target lowered to $650 from $700 at Jefferies
The Fly

Adobe price target lowered to $650 from $700 at Jefferies

Jefferies analyst Brent Thill lowered the firm’s price target on Adobe (ADBE) to $650 from $700 and keeps a Buy rating on the shares. While fiscal Q4 beat and FY25 guidance met “buy-side bogeys,” the report “was not the clearing event that investors had hoped for,” the analyst contends. FY25 revenue and margin guidance were below sell-side consensus and questions persist on the pace of AI revenue monetization, notes the analyst, who still expects Adobe to be “an AI winner” long-term.

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