Autodesk (ADSK) PT Lowered to $260 at BofA Securities

BofA Securities analyst Brad Sills lowered the price target on Autodesk (NASDAQ: ADSK) to $260.00 (from $300.00) while maintaining a Neutral rating.

The analyst comments "Our new $260 PO (from $300) is based on an EV/EBITDA multiple of 22x our CY25 EBITDA estimate of $2.5bn (from 26x). The 22x multiple is slightly below the design software peer group average of 23x. We believe a slight discount multiple is warranted by the likely overhang associated with modeling uncertainty, offset by ADSK’s durable business model, high revenue visibility and favorable margin profile."

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