BUZZ-<a href="https://laohu8.com/S/ADBE">Adobe</a> slips on announcing CEO resignation without successor** Adobe ADBE.O slips ~9% to $245.71 premarket
** Co says longtime CEO Shantanu Narayen to resign once successor is appointed
** Melius Research says not surprised Narayen quitting after 18 years, but "bit surprised" he's doing so without successor or any strategic shift
** Brokerage, at least five others slash PT following news
** Co's Q1 revenue of $6.4 bln above estimate of $6.28 bln
** People will likely talk about Annual Recurring Revenue being a little light and CEO transition despite solid quarter, Melius Research says
** Stock rated "buy" on average; median PT is $335, per data compiled by LSEG
** As of last close, ADBE down ~23% this year
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com))
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