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UPDATE: Goldman Sachs Upgrades Autodesk to CL-Buy on Macro Turnaround

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Goldman Sachs upgraded Autodesk (NASDAQ: ADSK) from Sell to Conviction Buy and raised the price target from $25.00 to $45.00.

Goldman Sachs commented, "We think improved execution coupled with an inflecting nonresidential construction end-market can drive the shares higher. In ADSK's FY14 we see a tailwind from an accelerating US non-residential construction cycle, highlighted by the GS Industrials team, and a recovery in the China construction market. … We see the potential for Suite revenue to reaccelerate in FY14 with better adoption due to improved end market/macro trends. Also, we think ADSK has largely worked through execution issues that weighed on F2Q/ F3Q13 results."

Autodesk closed at $37.60 on Thursday.

Latest Ratings for ADSK

DateFirmActionFromTo
Jan 2017Wells FargoInitiates Coverage OnOutperform
Dec 2016Canaccord GenuityUpgradesHoldBuy
Sep 2016Evercore ISI GroupInitiates Coverage onBuy

View More Analyst Ratings for ADSK
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

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