UBS Maintains a 'Buy' on Autodesk (ADSK); Cutting Estimates on Unpleasant European Surprise
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Price: $217.93 +0.71%
Rating Summary:
23 Buy, 14 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 22 | Down: 21 | New: 11
Rating Summary:
23 Buy, 14 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 22 | Down: 21 | New: 11
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UBS maintains a 'Buy' on Autodesk (NASDAQ: ADSK) price target lowered $1 to $43.
Analyst, Brent Thill, said, "Europe was the notable weak area, with only 2% growth ex-FX. Emerging markets also detracted at 6% growth vs. 16% last FY due to Brazil & India. In addition, there was some minor disruption from sales reorg (from geo to industry-based) and new channel plan at start of FY. These combined with transitory effects in Media & Entertainment segment created enough headwinds to prevent FQ1 rev upside and cautious FQ2 guide, though FY13 growth was reiterated. We remain positive on L-T secular trends though it may wait until fall before momentum returns."
Thill lowers FY13 EPS estimate from $2.17 to $2.07 and FY14 from $2.76 to $2.64.
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 $34.73 yesterday.
Analyst, Brent Thill, said, "Europe was the notable weak area, with only 2% growth ex-FX. Emerging markets also detracted at 6% growth vs. 16% last FY due to Brazil & India. In addition, there was some minor disruption from sales reorg (from geo to industry-based) and new channel plan at start of FY. These combined with transitory effects in Media & Entertainment segment created enough headwinds to prevent FQ1 rev upside and cautious FQ2 guide, though FY13 growth was reiterated. We remain positive on L-T secular trends though it may wait until fall before momentum returns."
Thill lowers FY13 EPS estimate from $2.17 to $2.07 and FY14 from $2.76 to $2.64.
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 $34.73 yesterday.
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