Expected 2011 Rev Growth Among Companies in Autodesk's Target Markets is Up ~210 bps from 9.5% to 11.6%, Citi Reports

In a report regarding Autodesk, Inc. ADSK, Citi reports that “Our proprietary Vertical Tracker bounced back in June after dipping in May in the wake of the Japan earthquake.” “Expected 2011 revenue growth among the 280 companies across 28 countries in Autodesk's target markets is up ~210 bps from 9.5% to 11.6%,” Citi writes. “Expectations are now slightly above pre-Earthquake levels. “CAPEX growth in 2011 (18.6%) increased 150 bps with 7 of 10 sectors showing monthly gains. We continue to believe customer CAPEX growth will peak in 2011 based on analysis of prior years (close to 2006 peak growth of 24%). This would be a concern for a cyclical stock such as Autodesk.” Autodesk closed Friday at $40.90.