As previously reported, HSBC analyst Stephen Bersey downgraded Autodesk (ADSK) to Hold from Buy with a price target of $290, down from $299. Q3 results were weaker than the firm expected and the stock has an “expensive relative valuation,” the analyst tells investors. The firm sees a “continued moderation in earnings growth” at Autodesk and prefers Dassault Systemes (DASTY), which it notes is “trading at a much lower multiple despite having comparable growth.”
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Read More on ADSK:
- Autodesk price target raised to $361 from $358 at Citi
- Autodesk’s (ADSK) Rising Website Traffic Hinted at Upbeat Q3 Results
- Autodesk downgraded to Hold from Buy at HSBC
- Dell and HP forecasts spark selloffs: Morning Buzz
- Autodesk price target raised to $280 from $260 at Mizuho
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
