Top 10 AI News You Shouldn’t Miss

2. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 123

Adobe Inc. (NASDAQ:ADBE) is a software company that provides digital marketing and media solutions. On December 12, BofA lowered the firm’s price target on Adobe to $605 from $640 and kept a “Buy” rating on the shares. The analyst told investors that Q4 results have been “mixed”. Despite this, there are also “some encouraging leading indicators” for growth heading into next year. The firm also quoted that Q4 “wraps up a year of delayed gratification for AI”. As such, the new target is based on a lower multiple applied to the firm’s calendar year 2026 free cash flow estimate, reflecting the lowered FY25 outlook.