BMO says PTC acquisition would be ‘transformative’ for Autodesk

BMO Capital analyst Daniel Jester says the potential acquisition of PTC (PTC) would be “transformative” for Autodesk (ADSK), even with overlap in some products. PTC would bring more enterprise customers and some new products, the analyst tells investors in a research note. However, BMO believes PTC would not be additive to Autodesk’s growth in the aggregate, and that PTC’s already high free cash flow margin “could dampen cost synergy potential.”