UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Autodesk as Momentum Sustains into 3Q

In a report published Tuesday, Morgan Stanley analyst Keith Weiss reiterated an Overweight rating on Autodesk ADSK, and raised the price target from $65.00 to $70.00. In the report, Morgan Stanley noted, “Fieldwork suggests a seasonal 3Q for ADSK, with room for upside and a conservative setup into 2HFY15. Our positive view derives from a supportive macro backdrop enabling a successful transition toward recurring revenues. With a more aggressive shift toward subscriptions, we increase our PT to $70.” Autodesk closed on Monday at $58.99.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsKeith WeissMorgan Stanley
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