Shares of Adobe Inc. and Oscar Health Inc. fell on 2 July after fresh bearish calls from Wall Street analysts highlighted growing competitive and policy pressures facing the two companies. Redburn-Atlantic cut Adobe to Sell from Neutral and slashed its price target to $280 from $420, warning that the software maker’s once-formidable moat is being eroded by generative-AI services such as Midjourney. The broker said accelerating low-end disruption is likely to keep compressing Adobe’s valuation multiple. Barclays began coverage of Oscar Health with an Underweight rating and a $17 target, saying the insurer’s business model remains vulnerable to policy risk and margin pressure despite management’s plan to lift earnings per share above $2.25 by 2027 through about 500 basis points of margin expansion. Oscar Health shares dropped roughly 15% to around $16.70 following the note and a surge in put-option activity. The company later reaffirmed its 2025 guidance for $11.2 billion to $11.3 billion in revenue and a medical cost ratio of 80.7%–81.7%.