Autodesk upgraded to Outperform from Sector Perform at Pacific Crest Pacific Crest upgraded Autodesk citing positive reseller checks that indicate better than expected growth, cyclical strength in end markets and secular tailwinds from the termination of upgrades which should make the cloud transition easier. Price target is $60.
Autodesk price target raised to $80 from $75 at Credit Suisse Credit Suisse raised Autodesk's price target to $80 to reflect end-of-sale of perpetual licenses in favor of subscriptions and the convergence of maintenance pricing to Basic over the next 12-24 months which is not anticipated by investors.
Autodesk reseller checks weak, says Pacific Crest Pacific Crest said Autodesk reseller checks are week with one month left in Q2, as most resellers are behind target. The firm said the results are not likely to surprise as expectations are low and remains a buyer long-term. Pacific Crest rates Autodesk an Overweight.