Wall Street analysts adjust price targets for CRM, ADBE, MSFT, and FTNT amid broader market volatility and earnings anticipation.
Morgan Stanley slashed Salesforce’s price target to $185 from $287 and downgraded Adobe to Underweight with a $240 target. The moves come as futures trade higher following Monday’s declines across major indices, driven by geopolitical tensions and earnings season uncertainty.
The Nasdaq, Dow Jones, and S&P 500 all closed lower on Monday, with the Russell 2000 leading losses. Meanwhile, Morgan Stanley upgraded Microsoft to Overweight at a $600 target and nearly doubled Fortinet’s price target to $133 from $80, citing AI and cybersecurity trends.
Traders await further earnings reports as chip stocks show signs of recovery, while Iran’s foreign ministry signals potential for diplomatic discussions after days of escalation.