Canaccord Genuity Maintains a 'Buy' on Autodesk (ADSK); Far Better than Feared; Stock Seems Oversold
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Price: $253.83 +1.12%
Rating Summary:
36 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
36 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Autodesk (NASDAQ: ADSK) price target lowered to $42.00.
Canaccord analyst, Richard Davis, said, "Upside results and a modestly improved outlook should ease investors’ near-term concerns that ADSK is about see a cratering of demand for its low-cost engineering and manufacturing design tools. Longer term, we believe that an expanding product portfolio and continued cost discipline position the firm for a multi-year period of low double-digit revenue growth and gradual margin expansion. While macro ebbs and flows are likely to drive trading over the next few months, we are confident that Autodesk has all of the characteristics of a rewarding long-term investment. The recent sell-off provides an attractive entry point, so we would be buyers of ADSK shares today."
For more ratings news on Autodesk click here and for the rating history of Autodesk click here.
Shares of Autodesk closed at $26.51 yesterday.
Canaccord analyst, Richard Davis, said, "Upside results and a modestly improved outlook should ease investors’ near-term concerns that ADSK is about see a cratering of demand for its low-cost engineering and manufacturing design tools. Longer term, we believe that an expanding product portfolio and continued cost discipline position the firm for a multi-year period of low double-digit revenue growth and gradual margin expansion. While macro ebbs and flows are likely to drive trading over the next few months, we are confident that Autodesk has all of the characteristics of a rewarding long-term investment. The recent sell-off provides an attractive entry point, so we would be buyers of ADSK shares today."
For more ratings news on Autodesk click here and for the rating history of Autodesk click here.
Shares of Autodesk closed at $26.51 yesterday.
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