JPMorgan lowered the firm’s price target on Adobe (ADBE) to $540 from $580 and keeps an Overweight rating on the shares. The company reported fiscal Q1 ahead on revenue and margin and and reiterated its fiscal 2025 outlook, the analyst tells investors in a research note. The firm sees the “minor” year-over-year decline in net new annual recurring revenue after several quarters of growth likely creating some volatility in the shares.
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