"Analysts Adjust Adobe Stock Target Amid AI Competition and Weak Sales Projections"

Adobe's stock price took a hit after reporting earnings, with analysts adjusting their price targets due to concerns about the impact of AI on the company's competitive position. Despite disappointing guidance and setbacks such as the failed merger with Figma, some analysts believe the stock's pullback is an overreaction and see potential for long-term growth, especially with the company's upcoming user conference and new product launches. Morningstar affirms Adobe's fair value estimate, citing strong AI adoption and engagement, new product launches, and recent subscriber additions as reasons to believe in the company's second-half story.