UPDATE: Jefferies Raises PT to $47 on Autodesk on BIM Takeaways

Jefferies maintained Autodesk

with a Buy rating and raised the price target from $45.00 to $47.00. Jefferies analyst Ross MacMillan commented, "Our Building Information Modeling (BIM) expert, Steve Jones, of McGraw Hill, provided a number of key takeaways: i) BIM adoption is up materially since 2007, but penetration is low in many areas (26% of engineers and 31% of contractors); ii) Autodesk is well positioned as a leading player in this market, though others are vying for share; iii) McGraw Hill sees acceleration in construction industry growth from 7% in CY13 to 17% in CY14." Autodesk closed at $40.14 on Monday.