Autodesk price target raised to $232 from $224 at BMO Capital

BMO Capital raised the firm’s price target on Autodesk to $232 from $224 but keeps a Market Perform rating on the shares after its Q2 earnings beat. The company reported stronger than expected free cash flow but maintained FY24 billings and revenue growth guidance despite the upside in the quarter, the analyst tells investors in a research note. Autodesk business is attractive over the longer-term, but in the near term, the ongoing macro uncertainty currently overshadows company-specific drivers, BMO added.