HSBC Downgrades Adobe to Hold From Buy, Citing AI Competition
HSBC analyst Stephen Bersey lowered his rating on Adobe, citing competitive risks from a reported AI-built alternative to its creative products. Adobe shares fell fractionally in Tuesday premarket trading.
Adobe shares fell slightly in Tuesday’s premarket session after HSBC cut its rating on the software company, pointing to competitive risks from a reported AI-built alternative to Adobe’s creative products. HSBC analyst Stephen Bersey lowered Adobe to Hold from Buy a…