KeyBanc initiated coverage of Adobe with an Underweight rating and $445 price target. Creative Cloud’s stranglehold on the digital media content creation space has been a source of strength, but it has also been “a source of worry,” the analyst tells investors. The firm expects competitive pressure to rise in the coming years and to slow Creative Cloud growth to the high single digits due to both generative AI and the emergence of strong low-end tools, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ADBE: