KeyBanc lowered the firm’s price target on Autodesk (ADSK) to $341 from $365 and keeps an Overweight rating on the shares. The firm is cautious heading into Autodesk’s Q1 earnings. KeyBanc’s mixed checks in the quarter highlighted continued strength in construction, offset by softness in U.K. and Canada across AE and manufacturing. Despite this, the setup looks conservative enough where Autodesk could still post in line to nominally higher headline Q1 results, the firm adds.
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