RBS downgrades Adobe; slashes price target from $46 to $36

“RBC Capital analyst Robert Breza this morning downgraded Adobe Systems (ADBE) shares to Sector Perform from Outperform, cutting his price target to $36, from $46,” Eric Savitz reports for Barron’s.

“The analyst says the stock is likely to retreat after the coming launch of the latest version of its flagship Creative Suite software line – and he says the ongoing debate with Apple (AAPL) over Flash could cause lingering issues,” Savitz reports.

Breza wrote in a research note, “‘In addition, we can’t ignore the Apple/HTML5 [issue], overhang which will likely continue to constrain the stock multiple.'” Savitz reports.

Full article here.

MacDailyNews Take: The chickens are coming home to roost, lazy Adobe ingrates.