Adobe Slips as Tech Giants Win Analyst Favour

Analysts trimmed targets on ADBE twice in quick succession, with the consensus average price dropping to $327.54 from $329.81. The back-to-back cuts reflect lingering concerns about AI competition eating into Adobe's creative software revenue. The stock carries a $102 billion market cap and a short interest of 4.8% of free float — modest, but bears are watching.

The contrast elsewhere in tech is sharp. AVGO saw its consensus target lifted to $520.40, reflecting fresh optimism after Broadcom's AI chip business continues to impress. At $1.83 trillion in market cap, it is now one of the world's most valuable companies.

ORCL also attracted upward target revisions, with the consensus moving to $252.49. Oracle's cloud infrastructure push has kept analyst sentiment firmly bullish. Thirty-five of 42 analysts covering the stock rate it a Buy.

Away from tech, utilities faced a coordinated sweep of target price cuts. DUK, ED, WEC, PEG, SRE, and FE all had targets trimmed. Rising bond yields are squeezing the appeal of defensive dividend payers. The cuts were small but the breadth signals a sector-wide reassessment.