Adobe Stock (ADBE) News Today: KeyBanc Downgrade Pressures Shares as FY2026 Forecast Puts AI Monetization Back in Focus
Adobe shares fell about 2% on December 15, 2025, after KeyBanc downgraded the stock to Underweight with a $310 price target. The move followed Adobe’s record Q4 and FY2025 results and a new FY2026 outlook projecting double-digit ARR growth. Analysts cited concerns over competition and the pace of AI-driven revenue gains. BMO also trimmed its target to $400 but kept an Outperform rating.