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Adobe: every analyst still rates it Buy or Hold — and almost every recent update was a price target cut

Revenue +12.0%. FCF margin 38.1%. ROE 58.8% (ROA 18.9%). Financial Scorecard: 3 of 4 strong. P/E 14.3 — a decade-low for ADBE. Yet ADBE is 42% below its 52-week high. 25 analysts: 63% Buy, 34% Hold, 4% Sell — average target $364.78 vs current $244.76. The catch: of the visible recent updates, all were cuts.