Autodesk price target raised to $275 from $265 at KeyBanc

KeyBanc raised the firm’s price target on Autodesk to $275 from $265 given the potential for modest estimate upside, while keeping an Overweight rating on the shares. After finishing its quarter-end checks, the firm notes most resellers finished Q4 in line with plans, and tone of business remained unchanged. That said, some highlighted modest pull-forward ahead of February price increases. While KeyBanc still expects 2024 revenue growth guidance in the 9%-11% range, Q1 guidance could come in lighter. Additionally, several U.S. resellers highlighted a June date for the upcoming transaction model change, the firm adds.