Adobe rode the wave of sector strength, with multiple analyst upgrades adding further momentum.
CLSA initiated an outperform rating on Adobe with a $300 price target, arguing that claims of AI fully replacing traditional software are unrealistic and that Adobe's ecosystem moats—including its font library—retain significant defensive value.
HSBC also upgraded the stock to a buy rating with a $308 target, noting that generative AI has not yet posed a material business impact on Adobe and that the market has overstated the competitive threat from AI tools.
$Meta Platforms, Inc.(META)$
$Micron Technology(MU)$
$Alphabet(GOOG)$
$Apple(AAPL)$
Modified in.08:58
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