Jefferies Upgrades Autodesk (ADSK) to Buy
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Price: $30.31 -3.75%
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
8 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies upgraded Autodesk (NASDAQ: ADSK) from Hold to Buy with a price target of $44.00 (up from $40).
The firm said, "Our survey work suggests only a modest downtick (incl Europe) and we expect an in-line F2Q12 and in-line guide. We are also becoming more positive on suites and think they will positively impact growth next year. Finally, while the stock is not drop-dead cheap, at 15X CY12 EPS (ex net ~$7 cash a share) we think we are buying growth at a reasonable price."
For more ratings news on Autodesk click here and for the rating history of Autodesk click here.
Shares of Autodesk closed at $36.20 yesterday.
The firm said, "Our survey work suggests only a modest downtick (incl Europe) and we expect an in-line F2Q12 and in-line guide. We are also becoming more positive on suites and think they will positively impact growth next year. Finally, while the stock is not drop-dead cheap, at 15X CY12 EPS (ex net ~$7 cash a share) we think we are buying growth at a reasonable price."
For more ratings news on Autodesk click here and for the rating history of Autodesk click here.
Shares of Autodesk closed at $36.20 yesterday.
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