Berenberg analyst Nay Soe Naing downgraded Autodesk to Hold from Buy with an unchanged price target of $295. Autodesk is still unable to file its annual report, and the risks associated with the audit committee investigating its accounting practices are now at a significant enough level to make this the overriding factor within the investment thesis on the stock, the analyst tells investors in a research note. The firm prefers to stay on the sidelines until the ongoing matter is resolved.
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