Adobe Drags Analysts Down After Results

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. Charles River Laboratories also received a target bump to $320 from $300 with a Buy rating from the same firm.