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BMO

Bank of Montreal

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BMO Capital noted that U.S. equities usually gain after the Federal Reserve starts cutting rates. Since 1982, the S&P 500 posted positive returns in 8 of 10 cycles, averaging +10.4% over the following year. Outcomes, however, ranged from –23.9% to +32.1%, depending on whether cuts extended growth or failed to prevent recession.
Oof, ADBE got a lot of price target reductions post earnings. DB $405 from 475 Fubon 400 from 445 TD Cowen 420 from 470 BMO 405 from 450 Evercore 450 from 475 Bernstein 508 from 530 JP 520 from 540 Piper 470 from 500 A couple increases too but not many and not by much. Its still way below all these too so who knows.
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