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UPDATE: Jefferies Downgrades Autodesk to Hold on Weaker Data

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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.

Latest Ratings for ADSK

DateFirmActionFromTo
May 2016UBSMaintainsNeutral
Mar 2016BairdMaintainsOutperform
Feb 2016BarclaysMaintainsOverweight

View More Analyst Ratings for ADSK
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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