In a report released yesterday, Kenneth Wong from Guggenheim maintained a Hold rating on Adobe (ADBE – Research Report). The company's shares closed last Monday at $658.30, close to its 52-week high of $699.54. According to TipRanks.com, Wong is a 5-star analyst with an average return of 20.8% and a 64.3% success rate. Wong covers the Technology sector, focusing on stocks such as BigCommerce Holdings, Weave Communications, and Altair Engineering. Currently, the analyst consensus on Adobe is a Strong Buy with an average price target of $725.95, implying an 11.2% upside from current levels. In a report released yesterday, J.P. Morgan also downgraded the stock to Hold with a $680.
https://www.tipranks.com/news/blurbs/adobe-adbe-gets-a-hold-rating-from-guggenheim?utm_source=advfn.com&utm_medium=referral