BUZZ-Adobe slips after Jefferies downgrades to 'hold'

Reuters01-05
BUZZ-<a href="https://laohu8.com/S/ADBE">Adobe</a> slips after Jefferies downgrades to 'hold'

** Shares of Photoshop creator Adobe ADBE.O fall 0.9% to $330.36 premarket

** Jefferies cuts stock rating to "hold" from "buy"; cuts PT to $400 from $500

** New PT represents a 18.19% upside to the stock's last close of $333.3

** Brokerage says any boost from AI hasn't shown up yet, as revenue growth has slowed since FY23 and the initial FY26 guidance continues that trend

** Jefferies says heavy AI users need paid plans, but ADBE has often offered unlimited-use promotions, signaling a focus on adoption rather than monetization amid rising competition

** Biggest concern for investors is long-term risk of disruption to co’s business model and uncertainty around its future - brokerage

** 26 of 40 brokerages rate the stock "buy" or higher, 11 "hold" and three "sell"; their median PT is $422.5 - data compiled by LSEG

** As of last close, stock down 4.7% YTD

(Reporting by Kanishka Ajmera in Bengaluru)

((mail to: Kanishka.Ajmera@thomsonreuters.com))

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