- 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.