Autodesk price target lowered to $300 from $350 at Oppenheimer

Oppenheimer lowered the firm’s price target on Autodesk (ADSK) to $300 from $350 and keeps an Outperform rating on the shares. While potential tariff headwinds dominated recent investor conversations, quarter-to-date debates centered on Starboard engagement, long-term growth/operating targets, and areas of additional efficiencies, the firm notes. Regarding tariffs, Oppenheimer’s conversation with management last week focused on the resilience of the business relative to past down cycles. With Autodesk executing on the transaction transition and macro still uncertain, management does not intend to refresh long-term growth targets at Analyst Day, but could address profitability and provide underlying growth drivers.