Autodesk price target raised to $316 from $265 at Stifel

Stifel raised the firm’s price target on Autodesk to $316 from $265 and keeps a Buy rating on the shares. The company delivered “solid” Q4 results, with early renewals, up-front revenue from Enterprise Business Agreements and a consistent macro, the analyst tells investors. The firm is optimistic the company will continue providing good transparency and believes free-cash-flow will serve as a guide as it rebuilds multi-year-annual-billings dynamic. While the macro and transactional model change may impact near-term results, Stifel is overall bullish on its strategy and competitive dynamics.