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Oppenheimer constructive on Autodesk

Oct. 09, 2019 9:21 AM ETAutodesk, Inc. (ADSK) StockADSKBy: Clark Schultz, SA News Editor
  • Oppenheimer updates on Autodesk (NASDAQ:ADSK) after a product demonstration of the company's construction project applications.
  • Oppy on ADSK: "We believe the Construction opportunity has the potential to drive much of Autodesk’s growth over the next 12- to-36 months. We think the commercial construction industry can be mostly shielded from any macro growth weakness for a few years due to several factors discussed below (strong backlog, full employment). However, we are closely monitoring industry metrics for any signs of a prolonged slowdown."
  • The firm keeps an Outperform rating on Autodesk and assigns a price target of $175 (19% upside potential) vs. teh sell-side consensus PT of $168.56.
  • Shares of Autodesk are up 1.06% premarket to $147.20.

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