Goldman Thinks Autodesk (ADSK) Will Benefit from Upturn in Non-Res Construction

February 20, 2013 12:19 PM EST
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Price: $81.67 +2.11%

Rating Summary:
    17 Buy, 10 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs today maintained a Buy rating on Autodesk (NASDAQ: ADSK) with a price target of $45.00. Analysts pointed out that the Architecture Billings Index (ABI) reached 54.2 in January, up sharply from 51.2 in December; the highest level since November 2007.

"We continue to believe that Autodesk will benefit from an improving U.S. non-residential construction cycle and a recovery in the China construction market. Moreover, improved execution combined with our regional revenue scenario analysis and updated China and Eurozone PMI data leads us to view our above consensus revenue outlook as potentially conservative," said analyst Heather Bellini.

For an analyst ratings summary and ratings history on Autodesk (NASDAQ: ADSK) click here. For more ratings news on Autodesk click here.

Shares of Autodesk closed at $38.98 yesterday.

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