UPDATE: Jefferies Color on Autodesk PT Decrease

Jefferies, which lowered its PT on shares of Autodesk, Inc. 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.