JPMorgan upgraded Autodesk (ADSK) to Overweight from Neutral with an unchanged price target of $319. The firm adjusted ratings in the industrial software space, citing a shift in a conviction driven by “diverging fundamentals” within the vertical software-as-service landscape. Autodesk “stands out” for its leadership in design and building information modeling software and it sees “rapid adoption” of cloud and AI technologies. The company is positioned to capture “outsized share in high-growth verticals” such as data centers and infrastructure, the analyst tells investors in a research note.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ADSK:
- Autodesk: Restructuring-Driven Efficiency, Reinforced Outlook, and Long-Term FCF Upside Support Buy Rating
- Autodesk sees Q4 revenue, earnings above high end of outlook
- Autodesk to eliminate 1,000 employees, or 7% of workforce
- Autodesk Announces Global Restructuring and Raises Financial Outlook
- Orlando Bravo tells FT software selloff creating ‘huge buying opportunity’