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Fly News Breaks for November 18, 2015
ADSK
Nov 18, 2015 | 08:28 EDT
BofA/Merrill analyst Kash Rangan said Autodesk is up 40% since Bloomberg reported activists have taken a stake in the company. Rangan believes valuation fully reflects a bull case scenario and and lowered FY17 and FY18 revenue estimates to reflect cloud transition dynamics and to reflect sub-based revenue modeling. The analyst rates Autodesk an Underperform with a $45 price target o shares.
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