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Upgrade Alert for Autodesk (ADSK)

By Shiri Gupta

Autodesk (NASDAQ:ADSK) was upgraded from Neutral to Outperform at Credit Suisse today. The stock closed yesterday at $55.66 on volume of 9.7 million shares, above average daily volume of 2.5 million.

Autodesk has overhead space with shares priced $55.66, or 10.5% below the average consensus analyst price target of $62.21. The stock should discover initial support at its 50-day moving average (MA) of $54.43 and subsequent support at its 200-day MA of $52.28.

Autodesk share prices have moved between a 52-week high of $58.68 and a 52-week low of $39.24 and closed yesterday at 42% above that low price at $55.66 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.3%.

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 is tracking the current trend status for Autodesk and will alert subscribers who have ADSK in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Autodesk

Ticker(s): ADSK