Market Overview

UPDATE: Jefferies Downgrades Autodesk to Hold on Weaker Data

Related ADSK
Autodesk Inc. (ADSK): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report
Market Wrap For March 19: Yellen Hints of Higher Rates & Sooner Than Expected End To Taper
Tech Sector Lags as EMC, Juniper Sink (Fox Business)

Jefferies reduced its rating on Autodesk (NASDAQ: ADSK) from Buy to Hold and lowered its price target from $39 to $34.

Jefferies noted, "A combination of our channel survey indicating weakening demand trends, other technical software companies (ANSS/PMTC) guiding to 4Q growth below seasonal trends and concerns about the impact from ADSK's suite strategy to drive higher margins lead us to downgrade the stock. The biggest risk to our call is that macroeconomic trends improve over the course of the next year and ADSK benefits from improved demand in commercial real-estate and manufacturing."

Autodesk closed at $31.57 on Wednesday.

Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (ADSK)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free