Autodesk assumed with an Overweight at Morgan Stanley

Morgan Stanley analyst Elizabeth Porter assumed coverage of Autodesk with an Overweight rating and $305 price target. The analyst sees shares benefiting from a lowering interest rate environment, new product introductions and go-to-market changes to support growth, as well as an opportunity to accelerate shareholder returns. While stating that the firm is “cognizant of activist concerns regarding accounting practices and current management,” this makes Autodesk a self-help story and “the fundamentals of this core software franchise should shine through the noise,” the analyst tells investors.