Citi Maintains a 'Buy' Rating on Autodesk (ADSK), Lowers Price Target
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Citi maintains a 'Buy' rating on Autodesk Inc (Nasdaq: ADSK), but lowers price target from $24 to $17.
Citi analyst says, "We continue to be big fans of ADSK’s strong competitive position. We believe many of ADSK’s issues are macro related, and when these issues clear, ADSK will be a good story to revisit. Unfortunately, ADSK faces multiple headwinds into FY10 (currency, slowing macro, potential headcount reduction, among others) and is still searching for a CFO."
Autodesk, Inc. is a design software and services company.
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