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 estimates raised after 'robust' checks at Pacific Crest Pacific Crest raised its estimates for Autodesk to the higher end of management guidance after its European channel checks came back "robust." The firm says after some initially weak reseller checks in the U.K. and Germany, those markets have improved. It sees potential upside to guidance and keeps an Outperform rating on Autodesk.