Wedbush Starts Autodesk (ADSK) at Neutral, Saying Cyclical Issues Could Persist
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Price: $251.66 -2.44%
Rating Summary:
36 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
36 Buy, 9 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush initiates coverage on Autodesk (NASDAQ: ADSK) with a Neutral rating and $36 price target.
The analyst comments, "ADSK benefits from global development trends and a strong market position, with the largest worldwide channel network of any design software vendor. Due to the company’s exposure to the credit-sensitive small and mid-sized business (SMB) sector, ADSK shares are generally discounted relative to their long-term growth potential. At present, shares are trading at the largest discount to the median software forward P/E since late 2008 during the height of the recession."
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 $32.74 yesterday.
The analyst comments, "ADSK benefits from global development trends and a strong market position, with the largest worldwide channel network of any design software vendor. Due to the company’s exposure to the credit-sensitive small and mid-sized business (SMB) sector, ADSK shares are generally discounted relative to their long-term growth potential. At present, shares are trading at the largest discount to the median software forward P/E since late 2008 during the height of the recession."
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 $32.74 yesterday.
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