Autodesk price target lowered to $265 from $290 at Argus

Argus analyst Joseph Bonner lowered the firm’s price target on Autodesk to $265 from $290 and keeps a Buy rating on the shares. The company is performing about as well as can be expected in the current macroeconomic environment while moving forward with its transformation to annual billings, the analyst tells investors in a research note. Valuations for Autodesk have fallen amid recent Tech sector selloffs, but the company’s highly differentiated software continues to support long-term growth, the firm added.