Adobe Stock Falls as UBS Lowers Price Target in ‘Fiercely Competitive’ AI Market
Adobe could lose ground as rivals like OpenAI establish themselves in the market for creative artificial intelligence, UBS analysts said on Friday. Analysts led by Karl Keirstead lowered their target for the stock price to $475 from $525 while maintaining a Neutral rating on the shares. Adobe has increasingly embraced AI, rolling out its Firefly suite and incorporating generative AI tools into its flagship photo-editing software.