Autodesk upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Clarke Jeffries upgraded Autodesk (ADSK) to Overweight from Neutral with a price target of $357, up from $311. While the “efficiency narrative” has been building since mid-last year, the post-Q3 pullback in the shares has created an attractive entry point for a stock “that felt a little crowded on the long-side” for much of the last six months, the analyst tells investors in a research note. Entering 2025, Piper sees a cleaner path for outperformance in the shares, which it believes are less reliant on better revenue growth via cyclical recovery and instead Autodesk-specific margin initiatives.