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Autodesk Poised to Benefit from Biden Infrastructure Plan: Berenberg

Published 04/08/2021, 11:41 AM
Updated 04/08/2021, 11:42 AM
© Reuters.

By Dhirendra Tripathi

Investing.com – Autodesk (NASDAQ:ADSK) shares rose 2.5% on Thursday, a day after Berenberg analyst Gal Munda raised his price target for the stock to $370 from $310.

The new price is 26% higher than the stock’s current level.

Munda said the design software provider will be a beneficiary of the Biden administration’s $2 trillion infrastructure push. He thinks the government’s "schools, affordable housing, and manufacturing" push will help the company "materially" beat its double digit fiscal year 2025 estimate.

The analyst sees the potential for free cash flow and Autodesk reporting some beat-and-raise quarters this year.

Munda rates Autodesk as one of the best positioned names among the "highest-quality assets" in the design software space.

 

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