UPDATE: Canaccord Genuity Raises PT to $38 on Autodesk on Solid Quarter, Pullback

Canaccord Genuity maintained Autodesk ADSK with a Hold rating and raised the price target from $32.00 to $38.00. Canaccord Genuity noted, "We are warming up to ADSK shares. Assuming trend line world economic recovery, ADSK's numbers set up well for a second half calendar 2013 acceleration. We are waiting for the shares to trade back perhaps 10% to consider an upgrade from our current HOLD rating. With a few more days like Monday, we might get our wish sooner than expected." Autodesk closed at $36.62 on Monday.