UPDATE: Credit Suisse Upgrades Autodesk, Inc. On Anticipated Long-Term Upside

In a report published Thursday, Credit Suisse analyst Philip Winslow upgraded the rating on

from Neutral to Outperform, and raised the price target from $50.00 to $70.00. In the report, Credit Suisse noted, “We are upgrading Autodesk to Outperform from Neutral and raising our target price to $70 from $50, as we believe that several significant changes to its business model will result in meaningful long-term upside to revenue (at limited incremental cost) and, therefore, operating profitability that is not reflected in consensus estimates or the stock's valuation.” Autodesk, Inc. closed on Wednesday at $55.66.