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 downgraded at BofA/Merrill As previously reported, BofA/Merrill downgraded Autodesk to Underperform from Neutral. The analyst believes Autodesk shares are piced to perfection and said it is unclear how the planned perpetual license phase-out is progressing. Price target is $56.
Autodesk a top pick for 2015, says Cowen Cowen highlighted Autodesk as a top pick for 2015 as the company implements a plan to steer its customers to subscription offerings, which should lead to a wave of perpetual buying in the upcoming years. Cowen reiterated its Outperform rating and $73 price target on Autodesk shares.