Mizuho analyst Siti Panigrahi upgraded Autodesk (ADSK) to Outperform from Neutral with a price target of $400, up from $280. With the “smooth rollout” of the new transaction model, Autodesk can achieve $10B in revenue by fiscal 2029, accelerating its five-year annual growth rate to 13% from 11% and delivering $15 in free cash flow per share alongside 400 basis points of margin expansion, despite transition-related financial impacts, the analyst tells investors in a research note. The firm sees upside to consensus estimates. In addition, signs of a recovery in industry data, positive channel checks and improving macro trends further reinforce a positive outlook on Autodesk fundamentals, contends Mizuho.
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