Changes in US stocks | Target price slashed by institutions Adobe (ADBE.US) fell more than 4% and fell nearly 16% over the year

The Zhitong Finance App learned that on Wednesday, Adobe (ADBE.US) fell more than 4%, falling nearly 16% during the year to $374.78. According to the news, the troubled software giant received its first sales rating in months. Rothschild & Co Redburn analyst Omar Sheikh downgraded the stock from neutral. He also lowered the target price from $420 to $280 and pointed out in Wednesday's research report that generative artificial intelligence tools are eroding Adobe's advantage in content creation software.

Adobe is a manufacturer of creative and document management solutions such as Photoshop and Acrobat, and among its professional users, it has always mastered all stages of the content creation process — from idea to editing to workflow. However, the proliferation of generative AI tools has threatened the company's position, and Sheikh believes these tools can turn text into images and videos. Analysts pointed out that Imagen, Google Deepmind's image generator, and OpenAI's video generation model Sora are now the first choice for professionals to start creative projects.