# Citi Slashes Adobe Target to $207 as CEO Transition Begins

> Citigroup cuts Adobe's stock target to $207 from $250, warning fiscal 2027 growth risks as new CEO takes over.
- Title: Citi Slashes Adobe Target to $207 as CEO Transition Begins
- Summary: Citigroup cuts Adobe's stock target to $207 from $250, warning fiscal 2027 growth risks as new CEO takes over.
- Keywords: citigroup, adobe, anil chakravarthy, ceo transition, price target, fiscal 2027, stock downgrade, creative cloud, ai platforms, semrush, markets, BigGo Finance
- Source: BigGo Finance — https://finance.biggo.com/news/8b4de5c3-7c5c-4929-a98b-96af59422394
- Author: BigGo Finance
- Published: 2026-11-09T19:25:21+00:00
- Read time: 1 min
- Topics: citigroup, adobe, anil chakravarthy, ceo transition, price target, fiscal 2027, stock downgrade, creative cloud, ai platforms, semrush, finance, markets
## Citigroup Downgrades Adobe
Citigroup downgraded Adobe to Sell from Neutral on Nov. 4 and cut its price target to $207 from $250.
## CEO Transition Looms
Incoming CEO Anil Chakravarthy takes over on Dec. 1 amid vacancies in CFO and Digital Media leadership roles.
## Fiscal 2027 Growth Concerns
The bank expects soft fiscal 2027 outlook when Adobe reports fourth-quarter results in early December.
## Stock Reaction
Adobe shares rose roughly 1% on the downgrade and traded near $242 in early November.
## Q3 Financial Results
Adobe's third-quarter revenue rose 13% to a record $6.76 billion, while adjusted net income growth slowed to about 8%.
## AI Platform Expansion
Adobe expanded its CX Enterprise Coworker to AI platforms from Anthropic, Databricks, Google, OpenAI and Microsoft.
## Share Price Decline
Adobe shares have fallen about 31% in 2026, down 31% so far this year.
## Market Reaction
The stock barely reacted to the downgrade, trading near $242 with minimal movement.
## Fiscal 2027 Outlook
Citi analyst Tyler Radke expects cautious fiscal 2027 guidance when Adobe reports fourth-quarter results.
## Key takeaway

Citigroup downgraded Adobe to Sell from Neutral, lowering its price target to $207 from $250 due to leadership transition risks and fiscal 2027 growth concerns.