** Shares of Photoshop maker Adobe ADBE.O down 10.08% at $495.50 premarket
** Company on Wednesday forecast fiscal 2025 revenue below Wall Street estimates on slower subscription spending
** Expects annual revenue to be between $23.30 bln and $23.55 bln, compared with estimates of $23.78 bln - data compiled by LSEG
** At least four brokerages cut PT after results
** Brokerage D.A. Davidson cuts PT to $625 from $685; views the outlook as conservative, since company has multiple ways to boost revenue, including capitalizing on the value it offers to businesses and growing its freemium services
** RBC says the "low-end of creative feels more crowded and remains an area of investor focus with regard to competition"; trims PT to $590 from $610
** Avg. rating of 40 brokerages covering the stock is "buy"; median PT is $625 - LSEG data
** Up to Wednesday's close, stock down ~8% YTD
(Reporting by Joel Jose in Bengaluru)
((joeljose@thomsonreuters.com))
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