Pacific Crest Securities Reiterates on Autodesk on Constructive Outlook

In a report published Monday, Pacific Crest Securities analyst Brendan Barnicle reiterated a Sector Perform rating on Autodesk (NASDAQ: ADSK).

In the report, Pacific Crest Securities noted, “October improved for Autodesk. Business in the United States, United Kingdom, Germany, Spain and Italy clearly improved in October over September and resellers are more optimistic about a solid finish to the fiscal year. Checks remain weak in Argentina, where business has been weak for several years. There still is risk in the model transition. The channel is not too familiar with all the model changes being implemented at Autodesk. Resellers are becoming accustomed to the idea of getting smaller payouts from Autodesk, and they are looking to diversify their businesses. It is still unclear how Autodesk may get affected by disrupting its channel.”

Autodesk closed on Friday at $41.89.