Autodesk shares rise 4% as Jefferies starts coverage with Buy rating and $300 target

Jefferies initiated coverage of Autodesk with a Buy rating and a $300 price target, citing durable double-digit growth, strong operating margins near 40%, and a capital-light subscription model. The firm highlighted Autodesk's strong position in architecture, engineering, and construction software, anchored by proprietary 3D design and real-world asset data. Jefferies views AI as a productivity enhancer rather than a threat, potentially expanding revenue through new subscription tiers and usage-based pricing. The analysts expect continued earnings and free cash flow growth into the late 2020s, with near-term catalysts including AI-assisted design tools and infrastructure spending.