Adobe's shares fall over 3% after downgrade

Wednesday, 16. October 2019 15:59

Adobe Inc.'s shares declined by more than 3% on Wednesday following a downgrade by Citigroup from Buy to Neutral with a price target of $313.00, down from its previous target price of $322.00.

Citigroup decreased the grade for Adobe because of "lower growth and margin visibility."

Adobe's stock declined by 3.96% to stand at $268.41 at 9:53 am ET.

Related Links: Adobe Systems Incorporated
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Breaking the News / MS