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Autodesk (ADSK) Shares Lower as Stifel Nicolaus Sees Softening Demand for AEC Unit

June 22, 2011 12:05 PM EDT
Get Alerts ADSK Hot Sheet
Price: $260.42 -0.21%

Rating Summary:
    23 Buy, 14 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Shares of Autodesk (Nasdaq: ADSK) are trading modestly lower Wednesday morning, giving up some of the gains following a nearly 4 percent rise on Tuesday. The stock last traded at $36.57.

Investors may be selling the stock following a negative research note from Stifel Nicolaus' Blair Abernethy earlier.

The analyst argues Autodesk's Architecture, Engineering & Construction segment may be harmed by two consecutive monthly declines in the Architectural Billings Index. The reading came in at 47.2, down from 47.6 last quarter. Abernethy believes such a data point could suggest a downturn in demand for infrastructure and building design services.

Stifel maintains a Hold rating on shares of Autodesk.

Track all the market-moving analyst action on Autodesk shares with our Analyst Ratings page.


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