Despite recent struggles and market bearishness surrounding AI’s impact on design software, Adobe’s stock is showing signs of life. HSBC analyst Stephen Bersey has issued a contrarian ‘buy’ rating, challenging the narrative by highlighting the lack of significant impact from AI-powered competitors.
This optimistic outlook comes as Adobe shares have faced a considerable decline this year, making Bersey’s upgrade a noteworthy shift in sentiment.
Adobe's AI Resilience Shines as HSBC Issues Bullish 'Buy' Rating, Defying Market Pessimism
Adobe’s stock is rallying after a contrarian upgrade at HSBC
Design software has been an easy target for those bearish on software in the artificial-intelligence era, and Adobe has struggled to break free of that narrative, even after recent earnings beats.
Now HSBC analyst Stephen Bersey is questioning why the stock has been suffering so much given that the company has not seen any “material impact from AI-powered competitors.” Adobe shares ADBE have lost 34% so far this year.
Shares of Adobe were up on Thursday after HSBC analyst Stephen Bersey upgraded shares of Adobe to buy from hold. Photo: Getty Images
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