Canaccord Genuity Maintains a 'Buy' on Autodesk (ADSK); Solid Qtr; Investors Realizing Company Less Cyclical
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Price: $251.02 -0.11%
Rating Summary:
36 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
36 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Canaccord Genuity maintains a 'Buy' on Autodesk (NASDAQ: ADSK) price target raised to $47.00.
Analyst, Richard Davis, said, "Autodesk’s January quarter was the firm’s eighth consecutive upside surprise (a period during which revenues and EPS have grown roughly 14% and 30%, respectively). This kind of execution is critical to convincing investors that the business is more predictable than they believe. As such, if the firm continues along this path (as we expect), ADSK's P/E could expand. Even without a multiple expansion, we expect the stock to advance at least in line with earnings growth that should average in the mid-to-high teens for the next several years. When you combine this view with a reasonable possibility that the consensus/guidance is a bit on the conservative side, we believe you get the ingredients for several years of above-average price appreciation."
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 $38.20 yesterday.
Analyst, Richard Davis, said, "Autodesk’s January quarter was the firm’s eighth consecutive upside surprise (a period during which revenues and EPS have grown roughly 14% and 30%, respectively). This kind of execution is critical to convincing investors that the business is more predictable than they believe. As such, if the firm continues along this path (as we expect), ADSK's P/E could expand. Even without a multiple expansion, we expect the stock to advance at least in line with earnings growth that should average in the mid-to-high teens for the next several years. When you combine this view with a reasonable possibility that the consensus/guidance is a bit on the conservative side, we believe you get the ingredients for several years of above-average price appreciation."
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 $38.20 yesterday.
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