Adobe Stock Extends Pullback on Downgrade

Tech stock Adobe Inc (NASDAQ:ADBE) is slipping today, down 1.4% at $328.76 at last glance, after a downgrade from Jefferies to "hold" from "buy." The firm also lowered its price target by 20% to $400 from $500, citing AI competition and the likelihood of "gradual" AI monetization in 2026. On track for its fifth-straight loss after a 4.8% drop on Friday, Adobe stock is moving back down toward its Nov. 21, three-year low of $311.58. The shares have struggled to rebound over the past month, running into pressu ...