Upgrade Alert for Autodesk (ADSK)
Autodesk (NASDAQ:ADSK) was upgraded from Neutral to Outperform at Wedbush today. The stock closed yesterday at $38.86 on volume of 2.6 million shares, above average daily volume of 2.5 million.
Based on a current price of $38.86, Autodesk is currently 3.1% above its average consensus analyst price target of $37.64. Autodesk shares have support at the 50-day moving average (MA) of $34.97 and additional support at the 200-day MA of $34.01.
In the past 52 weeks, Autodesk share prices have been bracketed by a low of $27.70 and a high of $42.69 and closed yesterday at $38.86, 40% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has remained constant.
Autodesk, Inc. supplies PC software and multimedia tools. The Company's two-dimensional and three-dimensional products are used across industries and in the home for architectural design, mechanical design, geographic information systems and mapping, and visualization applications. Autodesk's software products are sold worldwide through a network of dealers and distributors.
SmarTrend recommended that subscribers consider buying shares of Autodesk on December 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.35. Since that recommendation, shares of Autodesk have risen 6.9%. We continue to monitor ADSK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Autodesk