Morgan Stanley Downgrades Adobe Stock Amid Leadership Changes and Strategic Shifts
Morgan Stanley analyst Adam Wood downgraded Adobe (ADBE) stock from 'Overweight' to 'Underweight,' citing leadership uncertainty following the departures of CEO Shantanu Narayen and CFO Dan Durn, as well as risks associated with its freemium strategy. The firm also cut ADBE's price target to $240 from $365.
Topics: Adobe Morgan Stanley price target revision stock downgrade