HSBC Elevates Adobe to Buy, Sees AI Concerns as Overstated
HSBC upgraded Adobe Systems Incorporated (NASDAQ:ADBE) to Buy from Hold and raised its price target to $308 from $282, saying investor worries about generative AI disrupting Adobe's core business have been exaggerated. The upgrade follows solid fiscal second-quarter results and ongoing momentum across Adobe's core offerings, with HSBC also nudging …