Autodesk (ADSK) Price Target Raised at Jefferies on BIM Trends

March 19, 2013 1:32 PM EDT Send to a Friend
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Price: $61.95 +6.06%

Rating Summary:
    17 Buy, 5 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 18 | New: 41
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Jefferies raiesd its price target on Buy-rated Autodesk (NASDAQ: ADSK) from $45 to $47 following data from Building Information Modeling (BIM) expert, Steve Jones, of McGraw Hill.

Key takeaways, according to the analyst, included: "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."

For an analyst ratings summary and ratings history on Autodesk click here. For more ratings news on Autodesk click here.

Shares of Autodesk closed at $40.03 yesterday.


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