Actionable news
All posts from Actionable news
Actionable news in ADSK: Autodesk, Inc.,

UBS Raises Autodesk Target, Sees Good Q1 Mixed With Nervousness About The Future

In a Monday morning note highlighted by uncertainty, UBS previewed Autodesk, Inc. ADSK value added reseller, or VAR, survey results.

Reasons for the firm's hesitancy related to the company's future came down to inconsistent data points, mixed checks from peers and the results of the VAR survey.

UBS analyst Brent Thill noted Autodesk's positive VAR survey results, as well as solid performance from peers in the March quarter. However, Thill also noted large-scale macro concerns coupled with low hiring plans, as well as customer behavior uncertainty. Playing the "what-if" game, Thill said forward-looking EPS would have to reach $4.00 to create a compelling buying opportunity.

Thill concluded by suggesting Autodesk's future is still clouded by longer-term doubt.

UBS adjusted its price target from $53 to $58. The analyst maintains a Neutral rating on Autodesk shares.

Mar 2016BairdMaintainsOutperform
Feb 2016BarclaysMaintainsOverweight
Feb 2016Credit SuisseMaintainsOutperform

© 2016 Benzinga does not provide investment advice. All rights reserved.