Market Overview

UPDATE: Jefferies Upgrades Autodesk to Buy on Exposure to Non-Residential Real Estate Cycle

Share:
Related ADSK
Earnings Scheduled For February 26, 2015
Stephen Mandel's Lone Pine Capital Loves Tech, Consumer Stocks
Autodesk, Inc. (ADSK) in Focus: Stock Jumps 5.3% - Tale of the Tape (Zacks)

Jefferies upgraded Autodesk (NASDAQ: ADSK) from Hold to Buy and raised the price target from $40.00 to $45.00.

Jefferies said, "We upgrade ADSK to Buy based on: i) Increased conviction of a non-residential real estate cycle over the next 12-18 months plus ADSK's high sales correlation to this (R²=0.74); ii) ADSK's strong position in BIM with room for increased penetration in intl markets/ construction; iii) Model setup that is attractive under a cycle scenario; and iv) a valuation that is ok given our view on the cycle/shift to higher recurring rev."

Autodesk closed at $36.72 on Thursday.

Latest Ratings for ADSK

DateFirmActionFromTo
Feb 2015Canaccord GenuityMaintainsBuy
Feb 2015Pacific CrestMaintainsOutperform
Feb 2015BarclaysMaintainsOverweight

View More Analyst Ratings for ADSK
View the Latest Analyst Ratings

Posted-In: JefferiesAnalyst Color Upgrades Analyst Ratings

 

Related Articles (ADSK)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→