Adobe stock slides on BMO downgrade: “no clear catalyst” and competition in focus
Adobe shares fell 1.5% to $333.95 Friday after BMO Capital Markets downgraded the stock and cut its price target to $375, citing rising competition in Creative Cloud, especially from Canva. BMO flagged risks to pricing power and seat growth, with traders now watching Tuesday’s U.S. CPI and Adobe’s March 12 earnings call for further signals.