UPDATE: Jefferies Raises PT to $41 on Autodesk

In a published report, Jefferies reiterates its Buy rating on Autodesk Inc. (NASDAQ: ADSK) and raises its price target to $41 from $40 quarter that beat expectations and solid guidance going forward.

Jefferies comments, “ADSK reported rev/ NG EPS of $549M/ $0.44 beating us $544M/ $0.41 and Street $547M/ $0.41. The beat was driven by license strength ($331M vs. us at $321M), lower G&A ($39M vs. us $42M) and a lower than modeled share count. … ADSK reported rev/ NG EPS of $549M/ $0.44 beating us $544M/ $0.41 and Street $547M/ $0.41. The beat was driven by license strength ($331M vs. us at $321M), lower G&A ($39M vs. us $42M) and a lower than modeled share count.”

ADSK closed at 34.04 on Tuesday, up 1.28 percent.