Markets Insider
Adobe Stock (ADBE) Rebounds From Multi-Year Lows as RBC Sets $315 Target amid CEO Leadership Shift and Q3 Test
xCruzo Brief
Adobe shares are rebounding off multi-year lows as investors look toward the company’s third-quarter results on September 10, amid a planned CEO transition and broader executive changes. While the stock has recently risen, it remains down about 20% year-to-date versus peers in the software sector. Analyst views are mixed ahead of the earnings call. RBC raised its price target to $315 with an Outperform rating, citing steady ARR growth, while Stifel kept a Hold rating and a $200 target amid an open CFO search. Adobe CEO Shantanu Narayen will step down on December 1, with Anil Chakravarthy taking over as CEO.
xCruzo quick-read summary • Source: Markets Insider • Read the full article for complete information.
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