Adobe (ADBE) PT Lowered to $400 at BMO Capital

BMO Capital analyst Keith Bachmann lowered the price target on Adobe (NASDAQ: ADBE) to $400.00 (from $405.00) while maintaining a Outperform rating.

The analyst comments "Adobe reported upside in both net new ARR and total revenues. Moreover, Adobe guided roughly in line with consensus for FY26 revenues which we view as a reasonable starting point, with the potential for growth in net new and total ARR in FY26 vs. FY25. Hence, against low expectations, we think results were solid. At the same time, we believe the competitive environment remains challenging particularly with lower-end users and AI applications. Net, we remain Outperform though lower our price target to $400 from $405."

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