Goldman Sachs Downgrades Autodesk (ADSK) to Sell

Goldman Sachs downgraded Autodesk (NASDAQ: ADSK) from Neutral to Sell with a price target of $32 (down from $38).

The firm said while bulls see upside to management's FY2013 revenue outlook for
at least 10% yoy growth, they see risk to this as Suites "may have tough comps as promotional offerings to help drive sales continue to subside."

Goldman believes Autodesk will underperform the group on deceleration in Suites growth and weak macro indicators, as it has the highest correlation to GDP and market trends.

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 $33.97 yesterday.

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