UBS, Baird Lower PT on Adobe (ADBE), BMO Capital Downgrades to Market Perform

Adobe Inc. (NASDAQ:ADBE) is one of the 10 Best AI Software Stocks to Buy Right Now. On January 26, UBS reduced its price target on Adobe Inc. (NASDAQ:ADBE) from $375 to $340 and maintained its Neutral rating on the stock.

On January 14, Baird also lowered its price target on Adobe Inc. (NASDAQ:ADBE) from $410 to $350 and kept a Neutral rating on the stock.

UBS, Baird Lower PT on Adobe (ADBE), BMO Capital Downgrades to Market Perform

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Earlier, on January 9, BMO Capital downgraded its rating on Adobe Inc. (NASDAQ:ADBE) from Outperform to Market Perform and cut its price target from $400 to $375. This update comes after BMO Capital’s seventh proprietary Creative Cloud survey, which showed rising competition in the creative software market. This is affecting smaller businesses, students, and freelance users.

BMO Capital noted that while Adobe Inc. (NASDAQ:ADBE) offers an “undemanding” current valuation, it does not see any clear positive catalysts for the company. According to the research firm, shares are expected to stay range-bound. Despite the downgrade and the reduced price target, the firm maintained its financial forecasts for the company.

Adobe Inc. (NASDAQ:ADBE) is a global leader in digital media and digital marketing solutions. It provides creator tools and services to individuals, teams, and enterprises to create, publish, and promote content.

While we acknowledge the potential of ADBE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ADBE and that has a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.