Citi downgrades Autodesk to Neutral, cuts price target amid sector caution and macro risks.

Citi analyst Tyler Radke downgraded Autodesk stock from Buy to Neutral and lowered the price target from $331 to $246, citing a cautious stance on the software sector rather than Autodesk's fundamentals. Autodesk shares have fallen 24% year-to-date, trading at $223, pressured by a lack of near-term catalysts and macroeconomic uncertainties like tariffs and currency fluctuations. Despite strong revenue growth, free cash flow, and AI integration efforts, Citi warns of temporary risks during the company's sales optimization. Other analysts remain more optimistic, but Citi's move suggests investors should be cautious and possibly wait for clearer signs before buying new shares.