Adobe (ADBE) Stock: $310 Target And Equal-Weight Rating

By Amit Chowdhry ● Sep 26, 2022
  • The shares of Adobe (ADBE) recently received a $310 price target from Wells Fargo. These are the details.

The shares of Adobe (ADBE) recently received a $310 price target from Wells Fargo. 

Price target: $310

Rating: Downgraded from Overweight to Equal Weight

Analyst: Wells Fargo analyst Michael Turrin

Turrin adjusted the rating while noting that following a string of disappointing earnings results. And Adobe shocked the software world by announcing its intent to buy Figma for $20 billion. Even though the product/strategic fit is clearly aligned, the price tag is likely to lend credence to the bear case at least for now, according to Turrin.