A prominent investment bank has adjusted its target price for Adobe, a move that reflects a shift in its assessment of the company's performance. The change in target price is attributed to the bank's reevaluation of Adobe's AI strategy, which it now considers to have backfired. This development suggests that the bank's initial optimism about Adobe's AI initiatives has given way to a more cautious outlook. The implications of this adjustment are unclear, but it may indicate a broader reassessment of Adobe's prospects in the wake of its AI strategy's perceived failure.

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