KeyBanc Turns Bearish on Adobe (ADBE) Despite Strong Q4 Results

Adobe Inc. (NASDAQ:ADBE) is one of the Buzzing AI Stocks on Wall Street. On December 15, KeyBanc analyst Jackson Ader downgraded the stock from Sector Weight to Underweight with a price target of $310.00. The firm sees limited upside for the stock following robust Q4 results given muted stock reaction and Adobe's weak positioning compared to peers. According to the firm, the valuation discount is justified by “decelerating revenues, limited margin upside and AI competitive threats.” While the company has ...