Autodesk's Drive Into Manufacturing And Construction Industries Has Potential, Says Analyst
Portfolio Pulse from Lekha Gupta
BMO Capital Markets analyst Daniel Jester initiated coverage on Autodesk Inc (NASDAQ:ADSK) with a Market Perform rating and a price target of $224. Jester is bullish on the company's efforts to gain a share in the manufacturing industry and enter the construction sector, but is concerned about headwinds such as shorter duration contracts and moderate new subscription growth.
May 24, 2023 | 5:50 pm
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Autodesk receives a Market Perform rating and a $224 price target from BMO Capital Markets analyst Daniel Jester, who is bullish on the company's efforts in manufacturing and construction but concerned about headwinds.
The analyst's initiation of coverage with a Market Perform rating and a price target of $224 indicates a neutral short-term impact on Autodesk's stock price. While the analyst is bullish on the company's efforts in manufacturing and construction, concerns about headwinds such as shorter duration contracts and moderate new subscription growth may offset the positive sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100