Autodesk price target lowered to $230 from $270 at Mizuho

Mizuho lowered the firm’s price target on Autodesk to $230 from $270 and keeps a Neutral rating on the shares. While the conclusion of the recent internal investigation into Autodesk’s accounting practices removes a significant overhang on the shares, investors’ focus will switch to macro recovery, the analyst tells investors in a research note. The firm says the weakening construction backdrop and uncertain macro keep it on the sidelines pending signs of a meaningful recovery in construction spending.