According to Bloomberg, Autodesk (ADSK) is working with advisors to consider buying PTC (PTC). While a potential deal would extend the trend of consolidation across Industrial Software, Oppenheimer tells investors in a research note that the firm was “still surprised” by the merger headline. The firm sees potential for Autodesk to move further upmarket, and acknowledges a large opportunity to cross-sell Product Lifecycle Management into a sizeable installed base. The firm has an Outperform rating and $350 price target on Autodesk shares.
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