Adobe Inc. (NASDAQ:ADBE) is one of the best beaten-down technology stocks to buy now.
On July 2, HSBC upgraded Adobe Inc. (NASDAQ:ADBE) to a Buy from a Hold and raised the price target to $308 from $282
While the stock has shed nearly 38% in market value year to date, the new price target represents significant upside potential as the stock is trading at about $210. Pixabay/Public Domain HSBC upgraded the stock and bumped the price target, buoyed by the company’s resilience against AI-powered competitors. In a research note, the firm insists the market is overestimating the adverse impact of AI-based design tools.
The sentiments come on the heels of the company delivering impressive second-quarter fiscal 2026 results that showed 12.7% revenue growth. Adobe’s guidance of 11.8% full-year revenue growth also underscored underlying growth. According to HSBC, it has yet to see the material impact of AI competitors on Adobe.