** Photoshop-maker Adobe's shares fall 1.1% to $417.90
** Deutsche Bank downgrades company's shares to "hold" from "buy"; slashes PT to $475 from $600
** Brokerage expects stock to remain range-bound until company shows more tangible evidence of monetization from AI efforts
** Brokerage says impact of Firefly, Adobe's generative AI app, yet to be seen on its financial statements
** Not quantifying the impact of headwinds casts doubts over the health of the Creative Cloud segment - DB
** 29 analysts rate stock "buy" or higher, 9 "hold" and 2 "sell", median PT $600 - LSEG
** ADBE shares lost more than 25% in 2023
(Reporting by Purvi Agarwal in Bengaluru) ((Purvi.Agarwal@thomsonreuters.com))
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