【花旗降Adobe(ADBE.O)目标价至551美元 2025财年面临价格逆风和更多收入流失迹象】金十数据12月16日讯，花旗发表研报指，Adobe(ADBE.O)0%第四财季业绩令人失望，数字媒体净新增年化经常性收入(ARR)低于预期，管理层对来年展望亦较疲弱，认为该公司正处于收费模式转型期，自去年11月起首次加价后，二次消费及点数收费模式的变现，似乎未转化为相同水平的业务增长动力。该行又指，管理层对2025财年指引反映出数字媒体净新增ARR转化趋弱，预示该公司未来可能会遇到折扣、竞争及价格因素相关阻力，导致收入流失。考虑到Adobe未来会更专注于拓展新用户及调整产品经合和定价，花旗认为短期内业绩能见度较低，将其目标价从590美元降至551美元，重申“中性”评级。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.