In a report released today, Kenneth Talanian from Evercore ISI maintained a Buy rating on Autodesk (ADSK), with a price target of $175. The company’s shares closed yesterday at $123.05.
Talanian noted:
“We continue to believe that the company is on track (or potentially ahead of plan) to reach its F20 targets. With the continued execution and growth outperformance, we believe the stock should see a re-rating. Given the market malaise, this may not happen until after the New Year. The fundamentals, however, deserve recognition in our view and present a good buying opportunity. Maintain Outperform rating and $175 PT. See below/within for more detail.”
According to TipRanks.com, Talanian is a 4-star analyst with an average return of 9.6% and a 58.4% success rate. Talanian covers the Technology sector, focusing on stocks such as Proofpoint Inc, Check Point, and FireEye Inc.
Autodesk has an analyst consensus of Strong Buy, with a price target consensus of $161.92, a 31.6% upside from current levels. In a report issued on November 16, Credit Suisse also maintained a Buy rating on the stock with a $160 price target.
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The company has a one-year high of $159.94 and a one-year low of $101.55. Currently, Autodesk has an average volume of 2.23M.
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Autodesk, Inc. engages in the design of software and services. Its products include Autodesk 360 cloud services, AutoCAD civil 3D and LT, 3Ds Max, Maya, and Revit.
