Autodesk’s Price Target Cut at Stifel After Partner Checks
<p>Stifel analysts lowered their estimates and the price target on <a href='https://financialmodelingprep.com/financial-summary/ADSK'>Autodesk (NASDAQ:ADSK)</a> to $240.00 from $245.00 while reiterating their Buy rating.</p>
<p>After speaking with four Autodesk platinum-level channel partners, the analysts noted that results were disappointing, with missed quarterly expectations and expressed caution for the year due to a softening macro backdrop and demand pull-forward. The uncertain macro is seen as the cause, not competition. Despite this, Autodesk Construction Cloud remains strong. </p>
<p>While noting that uncertain macro may have a negative near-term impact on the results, the analysts continue to believe the company will sustain double-digit growth and expand margins and cash flow. </p>

NASDAQ:ADSK