Autodesk (ADSK) PT Raised to $370 at Berenberg

April 7, 2021 6:43 AM EDT
Get Alerts ADSK Hot Sheet
Price: $300.16 +0.43%

Rating Summary:
    24 Buy, 8 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Berenberg analyst Gal Munda raised the price target on Autodesk (NASDAQ: ADSK) to $370.00 (from $310.00) while maintaining a Buy rating.

The analyst commented, "Autodesk continues to rank among the highest-quality assets within our Design Software coverage. We believe that the company's long-term strategy is just starting to play out, even though all eyes are still on its FY23 financial target. This note is a result of our primary analysis that indicates $2.4bn FCF is achievable and Autodesk is likely to beat its FY25 growth CAGR estimate materially. We therefore raise our price target to $370 (from $310) and reiterate our Buy rating."

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