Morgan Stanley Maintains $330 Price Target on Autodesk (ADSK) Despite Soft ABI Data
Morgan Stanley maintained its Overweight rating and $330 price target for Autodesk Inc. (NASDAQ:ADSK) on May 21. The firm's remarks followed the release of the Architecture Billings Index (ABI) for April, which indicated that architectural activity remained soft.
The ABI showed a further decline in billings, falling from 43.1 in March to 43.2 in April. Considering its noteworthy involvement in the engineering, construction, and architecture sectors, the ABI decline points towards future construction projects potentially slowing down, which could affect Autodesk's operations.
Pixabay/Public Domain
That said, Elizabeth Porter of Morgan Stanley noted that several early indicators, such as design contracts and client inquiries, are starting to show tentative signs of stabilization, suggesting that the downturn may be beginning to moderate.
According to the analyst, Autodesk Inc. (NASDAQ:ADSK) is expected to meet its first-quarter targets and commit to its full-year fiscal 2026 guidance. Robust earnings from peers in the industry support this outlook. Although the declining ABI indicates softness in architectural billings, Morgan Stanley's position reflects a nuanced view of the market, with stable demand observed through reseller activity serving as a counterbalance, which boosts confidence in Autodesk's short-term performance.
While we acknowledge the potential of ADSK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ADSK and that has 100x upside potential, check out our report about the cheapest AI stock.
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