Autodesk investigation could keep stock range-bound, says RBC Capital

RBC Capital analyst Matthew Hedberg believes comments in Autodesk’s regulatory filing regarding its internal investigation indicate the probe will not have much of an impact relative to what the company said during its Q4 earnings call in February. However, the investigation could keep the stock range-bound until completed, the analyst tells investors in a research note. Overall, RBC believes Autodesk’s demand trends remain stable and thinks the company is in a position to deliver in-line to better results assuming stable macro trends continue. It has an Outperform rating on the shares with a $320 price target.