UPDATE: Jefferies Color on Autodesk PT Decrease

Jefferies, which lowered its PT on shares of Autodesk, Inc. (NASDAQ: ADSK), is providing some color on the stock.

“Ahead of ADSK's analyst day Wednesday, we took a deeper dive into the Suite strategy that is ramping this year,” Jefferies writes. “We think there will be limited incremental impact to the model near-term, but if successful suites have the potential to drive higher growth, subscription revenue and operating margin over time.”

Autodesk closed Friday at $36.69.