Adobe stock slips premarket after Jefferies downgrade flags tougher AI fight
Adobe shares fell 0.8% to $330.60 in premarket trading after Jefferies downgraded the stock to Hold and cut its price target to $400. The move follows a 4.8% drop on Friday. Jefferies cited slow AI monetization and rising competition from standalone AI tools. Traders are watching support near $330 after Friday’s low of $331.64.