ADBE dominated analyst activity Thursday after what appears to be a disappointing earnings reaction. At least four firms cut their price targets on the software giant in quick succession.
JP Morgan slashed its target from $340 to $315. Jefferies dropped to $275 from $285. TD Cowen initiated with a Hold at $245. Only Evercore ISI bucked the trend, nudging its target up to $250 from $225.
The consensus now sits at 23 Hold ratings versus 5 Buys. That's a cautious picture for a $99 billion company.
ORCL also drew a target cut. Stifel trimmed to $200 from $220 while keeping a Buy. The stock carries a $440 billion market cap, so the cut reflects broader enterprise software caution.
The brightest call of the day came for CRL. Evercore ISI raised its target on Charles River Laboratories to $320 from $300, reiterating Buy. The contract research firm has 5.3% of its float shorted — elevated enough to fuel a squeeze if momentum builds.
PAYX got a target lift to $117 from $98 at TD Cowen, though the analyst held at Hold. OXY received a bullish target increase to $70 from $65 at Evercore ISI.
The Adobe pile-on stands out. Multiple firms cutting targets on the same day signals real earnings disappointment, not routine adjustment.
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