ADBE suffered one of the day's harshest analyst calls. Evercore ISI's Kirk Materne downgraded the stock from Buy to Hold. His price target dropped from $325 to $225 — a 31% cut. Baird followed suit, trimming its own target to $230. Adobe's market cap sits at $94 billion.
The double-hit from two firms on the same day signals broad concern. AI competition pressure and slowing creative software growth appear to be the key worries. Short interest is modest at 4.8% of free float, suggesting the market hadn't priced in a sharp de-rating.
WSM moved in the opposite direction. Bank of America upgraded Williams-Sonoma from Hold to Buy with a $250 target. The home goods retailer has a $24 billion market cap. Analysts appear to see value after a tough stretch for consumer discretionary names.
CSCO got a positive nudge from Morgan Stanley. Meta Marshall raised her price target to $130, maintaining a Buy rating. Networking hardware demand tied to AI infrastructure buildout is driving bullish sentiment.
TSLA again attracted a bearish reiteration. GLJ Research kept its Sell rating with a $24.86 target — far below current trading levels.
Bernstein initiated coverage across beverages. KDP got a Buy at $38. PEP and KO both received Hold ratings, at $143 and $84 respectively.
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