Stifel Nicolaus Maintains Hold on Autodesk

Stifel Nicolaus is out with its report today on Autodesk ADSK, maintaining Hold. In a note to clients, Stifel Nicolaus writes, "Autodesk is trading at 26.4x P/E on FY12 estimates (22.6x P/E ex cash). We believe that Autodesk has a long term opportunity to drive sustained license growth and margin expansion, although we currently view the stock as fairly well valued and therefore maintain our Hold rating." At the time of posting, shares of ADSK were trading at $43.28, down 2.49% from Thursday's close.