Analysts
have
slashed
price
targets
on
three
stocks
from
around
the
world
over
the
past
week:
Adobe
,
France’s
Remy
Cointreau
,
and
Israeli
software
provider
NICE
.
Remy
Cointreau
and
NICE
shares
are
also
traded
in
the
U.S.
CNBC
Pro
screened
for
global
stocks
that
have
had
price
target
cuts
from
five
or
more
analysts
in
the
past
seven
days,
and
also
have
potential
upside
of
over
25%.
Adobe
Five
analysts
cut
their
price
targets
ahead
of
Adobe’s
second-quarter
earnings
report,
released
after
the
bell
Thursday.
Analysts
say
investors
are
concerned
about
Adobe’s
competitive
moat
versus
startups
such
as
Canva
and
Figma.
They
also
added
that
the
market
is
worried
about
the
competition
in
text-to-image
generation
AI
models
from
OpenAI,
Midjourney,
and
Google
.
“The
business
is
operating
in
‘bad
neighborhoods’
(weak
customer
engagement,
[small-medium
businesses],
consumer
demand),
competition
fears
are
rising,
and
its
AI
positioning
is
uncertain,”
Oppenheimer
analysts
led
by
Brian
Schwartz
said
in
a
note.
“This
suggests
that
beating
and
raising
growth
estimates
is
further
out.”
He
lowered
his
price
target
on
the
stock
to
$580
from
$660.
Despite
the
estimate
cuts,
analysts
are
bullish
on
the
stock
overall,
with
a
consensus
buy
rating
and
an
average
price
target
pointing
toward
37.8%
upside
potential
over
the
next
12
months.
Remy
Cointreau
It’s
also
been
a
tough
week
for
Remy
Cointreau,
the
makers
of
cognacs,
liqueurs,
and
champagne.
Ten
analysts
cut
their
price
target
on
the
stock
over
the
past
week.
It
follows
a
nearly
30%
decline
in
its
share
price
this
year
over
a
cyclical
fall
in
demand
for
the
company’s
products.
UBS
analysts
led
by
Sanjeet
Aujla
said
they
“lack
conviction
the
Cognac
category
can
sustain
high-single
digit
revenue
growth”
even
if
demand
for
their
products
rises
in
the
near
term.
They
added
that
geopolitical
risk
could
lead
to
tariffs
in
the
U.S.
and
China
and
cut
their
price
target
to
93
euros
($100.31)
a
share
from
100
euros
previously.
“By
way
of
sensitivity,
if
China
were
to
implement
tariffs
on
Cognac
in
line
with
its
estimated
dumping
margin
of
c16%,
we
estimate
this
would
be
a
c8%
impact
on
[earnings
before
interest
and
taxes]
if
Remy
were
not
able
to
pass
it
on
the
consumers.
In
the
U.S.,
a
c10-25%
tariff
on
Cognac
imports
would
be
a
6-16% EBIT impact
if
not
fully
passed
on,”
the
analysts
said.
Shares
in
the
company
—
which
has
a
market
cap
of
around
$4.64
billion
—
is
traded
across
Europe
and
in
the
United
States
over
the
counter
with
ample
liquidity.
NICE
NICE,
which
builds
customer
relationship
management
software,
saw
five
analyst
price
target
cuts
over
the
past
week.
Investors
are
worried
that
the
Israeli
technology
company,
which
also
has
a
listing
on
Nasdaq,
will
face
a
disruption
in
its
business
due
to
the
rise
in
artificial
intelligence.
In
response,
the
company
has
said
it
is
growing
its
AI
and
digital
business,
which
makes
up
8%
of
its
cloud
revenue
with
$150
million
in
annual
revenues.
RBC
analysts,
who
lowered
their
price
target
to
$230
a
share
from
$265,
remain
unconvinced.
“We
question
if
this
will
suffice
in
quelling
investor
concerns
of
GenAI
disruption
given
an
unclear
definition,”
said
RBC’s
Rishi
Jaluria
in
a
note
to
clients
on
June
12.
Overall,
however,
analysts
remain
bullish
on
the
stock,
with
the
average
price
target
of
16
analysts
pointing
to
64%
upside
potential
over
the
next
12
months.
