HSBC says a new competitive threat from a free-to-use creative software could make it challenging for Adobe (ADBE) shares to stage a meaningful comeback in 2027. Analyst Stephen Bersey downgraded ADBE this morning to “Hold” and lowered his price objective to $267, which nonetheless signals potential upside of about 12% from here.
Adobe stock has been an underperformer in 2026, currently down about 30% versus the start of this year.