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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Adobe Inc | NASDAQ:ADBE | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -4.14 | -0.84% | 488.135 | 488.09 | 488.19 | 495.81 | 486.92 | 490.52 | 1,349,720 | 20:36:55 |
From May 2019 to May 2024
By Michael Dabaie
Adobe Inc. (ADBE) shares were down 3.6% to $269.38 in late morning trading.
Citi Research cut the digital marketing and media solutions company to Neutral from Buy and lowered its price target to $313 from $322.
"We are downgrading Adobe from Buy to Neutral based on concerns about the ability to continue the financial momentum it has had over the last 5+ years," the Citi note said "We see challenges in the company posting meaningful upside to FY20 Street estimates and see risks in a combination of core Digital Media drivers decelerating, as well as street numbers around Digital Experience being too high."
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 16, 2019 11:38 ET (15:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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