Reported about 12 hours ago
Adobe Inc. (NASDAQ: ADBE) faces significant risks from emerging generative AI technologies according to analyst Omar Sheikh from Redburn Atlantic, who downgraded the stock’s rating to ‘Sell’ and cut the price target from $420 to $280. Sheikh highlighted that rivals utilizing tools like Sora and Midjourney are disrupting Adobe’s competitive advantage, particularly in content creation. He also noted that Adobe’s free cash flow growth is expected to slow significantly, forecasting a challenging transition ahead for the company as it struggles to keep up with competitors.
Source: YAHOO