Adobe price target lowered to $337 from $340 at Citi

Citi analyst Tyler Radke lowered the firm’s price target on Adobe to $337 from $340 and keeps a Neutral rating on the shares. After a "challenging last 12 months," the analyst is less concerned around Adobe’s near-term outlook. He remains cautious on weakening front office demand and macro/consumer concerns, but believes Adobe has some offsets from de-risked near-term estimates and potential tailwinds from price increases.