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Autodesk Likely to Deliver Solid Q1, Morgan Stanley Says

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Autodesk (ADSK) will likely post solid Q1 results with a modest upside versus consensus estimates and a raised outlook, Morgan Stanley said in a note Tuesday. The results are due May 28.

"Stable reseller checks support a solid Q1 with modest upside to Street forecasts," the report said.

The note said a stable demand backdrop, margin expansion driving free cash flow growth, and its defensible vertical software positioning amid AI-related multiple compression should support a re-rating of the stock from current discounted levels.

"With a differentiated competitive moat, sticky platform across multiple areas, and limited AI-narrative overhang, we remain Overweight," the report said.

Still, Morgan Stanley cut its price target to $315 from $350, citing recent market volatility across software universe.

Price: $238.52, Change: $-2.47, Percent Change: -1.02%

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