Autodesk +2.1% as Deutsche turns bullish

Jan. 21, 2020 11:30 AM ETIGV, PSJ, ADSK, XSWBy: Brandy Betz, SA News Editor2 Comments
  • Autodesk (NASDAQ:ADSK) is upgraded from Hold to Buy at Deutsche Bank, which increases the target from $180 to $230.
  • The upgrade comes as part of a broader note on the bank's belief that software and IT services spending will remain solid in 2020.
  • Analyst Alex Tout says key sector themes include moving core systems to the cloud, IoT becoming a "major" spend item, and the difficulty in finding quality tech talent.
  • Autodesk shares are up 2.1% to $197.40. The company has a Bullish average Sell Side rating.
  • Related software ETFs: IGV, PSJ, XSW

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