Autodesk "buy," target price raised

07/25/07 - UBS

NEW YORK, July 25 (newratings.com) – Analysts at UBS reiterate their "buy" rating on Autodesk Inc (ADSK). The target price has been raised from $51 to $52.

In a research note published this morning, the analysts mention that the company is expected to report its F2Q08 revenues in-line with the guidance and is unlikely to raise its revenue guidance for the October quarter. Checks indicate a reversal of trend in the 2D and 3D product performance from the trend witnessed in F1Q08, during which 2D was robust and 3D was relatively soft, the analysts say. With the FY08 3D channel incentive plan beginning to exhibit traction, 2D growth might decelerate, UBS adds.