Adobe shares closed up 2.86% at $279.71, showing resilience by recovering strongly from a 52-week low despite a significant analyst downgrade from Piper Sandler.
- The recovery occurred despite Piper Sandler downgrading ADBE to Neutral and sharply reducing the price target from $470 to $330, citing competitive pressures.
- The stock recovered from its intraday 52-week low of $264.04 amid high volume (8.55M), even as the Nasdaq dropped over 2% due to broader market fears regarding AI automation tools.
- ADBE continued to trade higher after hours, reaching $280.97 (+0.45%).