Adobe dominated analyst desks on Friday as at least five firms revised targets lower following the company's latest results.
JP Morgan cut its target to $315 from $340, maintaining a Buy. Jefferies trimmed to $275 from $285, staying at Hold. TD Cowen initiated coverage with a Hold at $245. Evercore ISI raised its target slightly to $250 from $225, but kept its Hold rating. The divergence tells the story: bulls are cooling, and the fence-sitters are plentiful. Adobe's market cap sits near $99 billion.
The sharpest target cuts came elsewhere. Casey's General Stores saw Evercore ISI slash its target by $105 — from $880 to $775 — while keeping a Buy rating. That is a 12% reduction in one move.
Oracle also drew a downgrade-adjacent action. Stifel cut its price target to $200 from $220, retaining a Buy, signalling some caution after a strong run.
On the brighter side, Paychex picked up a target hike from TD Cowen. The firm lifted to $117 from $98 — a $19 jump — while holding at Hold. Paychex carries a $41 billion market cap.
Evercore ISI raised its target on Occidental Petroleum to $70 from $65, adding a Buy, signalling renewed optimism on energy names. also received a target bump to $320 from $300 with a Buy rating from the same firm.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
