Autodesk price target raised to $255 from $244 at Baird

Baird analyst Joe Vruwink raised the firm’s price target on Autodesk to $255 from $244 and keeps an Outperform rating on the shares. The analyst previewed the quarter and said checks this quarter were favorable, with resellers performing at/above plan and growth signaling potential upside to F4Q billings. With 2024 estimates resetting lower after last quarter and given recent checks/evidence, we believe chances increase that initial 2024 outlook does not disappoint.