JPMorgan Upgrades Autodesk (ADSK) on AI and Infrastructure Exposure

Autodesk, Inc. (NASDAQ:ADSK) is one of the 10 AI Stocks Analysts Are WatchingOn February 2, JPMorgan analyst Alexei Gogolev upgraded the stock from Neutral to Overweight with a price target of $319.00.

The firm believes that the software stock is a standout, adjusting its ratings in the industrial software space due to a shift in a conviction driven by diverging fundamentals within the vertical software-as-service landscape.

ADSK is seen as a clear industry standard among architects, engineers, and contractors globally, with its cloud-native platform and rapid AI integration leading to operational efficiency and streamlining project workflows.

“Autodesk stands out for its leadership in design and BIM [building information modeling] software, rapid adoption of cloud and AI technologies, and expanding platform breadth, which position it to capture outsized share in high-growth verticals such as data centers and infrastructure.”

JPMorgan Upgrades Autodesk (ADSK) on AI and Infrastructure Exposure

Customer feedback has revealed that there is a trend among large firms toward software consolidation. These firms are increasingly standardizing on Autodesk for their design and compliance needs.

Overall, the firm believes that ADSK’s innovation, platform breadth, and exposure to secular growth drivers justify its rating.

Autodesk, Inc. (NASDAQ:ADSK), a multinational software corporation, leverages generative AI technology to drive innovation across the design, construction, manufacturing, and entertainment industries.

While we acknowledge the potential of ADSK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ADSK and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.