BUSINESSMARKETWATCH
Adobe stock has been crushed by AI fears. Now Morgan Stanley has cut its rating to underweight.
Morgan Stanley has downgraded Adobe's stock rating to underweight and reduced its price target by over a third. The decision follows concerns about multiple transitions at Adobe and potential competition from artificial intelligence alternatives.
Related Signal
Adjacent reporting
- PE Firm Hg Marks Down Fund Value by 9% After Software’s Plunge
- IBM shares plunge 25% as AI spending boom hammers business: ‘Ugly moment for software stocks’
- Morgan Stanley becomes Wall Street’s top bank for AI debt deals
- Slumping AI stocks overshadow gains for the rest of Wall Street, while oil prices drift
- Wall Street drifts as AI stocks hold steadier after last week’s losses
- Slumping AI stocks overshadow gains for the rest of Wall Street, while oil prices drift