UPDATE: Wedbush Upgrades Autodesk to Outperform on Positive Checks
Wedbush upgraded Autodesk (NASDAQ: ADSK) from Neutral to Outperform and raised the price target from $34.00 to $45.00.
Wedbush commented, "We are upgrading ADSK shares to OUTPERFORM from NEUTRAL based on improving macroeconomic fundamentals, supported by our end-quarter 4Q checks, which suggest ADSK saw solid 4Q channel sales. … Our conversations with resellers suggest 4Q activity was fairly robust, with customer demand boosted by an impending increase to upgrade pricing, a 2.9% financing offer, and resellers' year-end selling efforts."
Autodesk closed at $38.86 on Tuesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.