RBC Cuts Price Target on Autodesk to $340 From $380, Keeps Outperform Rating

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RBC has lowered its price target for Autodesk (ADSK) from $380 to $340, while maintaining an “Outperform” rating on the stock. This adjustment comes amidst other analyst actions, including Wolfe Research adjusting its price target and JPMorgan upgrading Autodesk to Overweight. The company also announced plans to cut 7% of its workforce as part of a restructuring to redirect investments towards AI and cloud technologies.

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