Autodesk price target raised to $240 from $225 at BofA

BofA raised the firm’s price target on Autodesk to $240 from $225 and keeps a Neutral rating on the shares after the company reported "solid" Q4 results, but gave FY24 free cash flow guidance that was below consensus. Autodesk indicated that the demand environment remained stable during the quarter, noted the firm, which believes a premium multiple is warranted by the company’s durable business model, high revenue visibility and "favorable margin profile."