Morgan Stanley analyst Elizabeth Porter maintained a Buy rating on Autodesk today and set a price target of $385.00.
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Elizabeth Porter’s rating is based on Autodesk’s strategic focus on expanding its product portfolio and leveraging AI capabilities to drive future growth. The company is exploring new markets such as Construction and Operations, which present substantial opportunities for increasing its total addressable market. Additionally, Autodesk is targeting underpenetrated areas within its core markets, such as Building Information Modeling, which offers significant growth potential, particularly in regions like India, Saudi Arabia, and ASEAN.
Moreover, Autodesk is capitalizing on AI advancements to enhance its offerings in the Media & Entertainment sector, aiming to reach smaller studios and new markets. The company’s commitment to evolving from task automation to workflow automation is expected to boost productivity and monetization. Despite the lack of new financial targets, the shares are trading at a discount compared to peers, presenting a favorable risk/reward scenario. These factors collectively support Elizabeth Porter’s Buy rating for Autodesk.
In another report released today, UBS also maintained a Buy rating on the stock with a $385.00 price target.