Market Overview

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

Related ADSK
Autodesk, Local Motors Collaborate On Spark 3D Platform
The 5 Most Influential Companies In 3D Printing
Tech Sector Lags as EMC, Juniper Sink (Fox Business)

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
Aug 2014JP MorganMaintainsOverweight
Aug 2014Pacific CrestMaintainsOutperform
Aug 2014UBSMaintainsBuy

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...

Partner Network

Get Benzinga's Newsletters