Autodesk Stock Surging on Morgan Stanley Upgrade

Shares of Autodesk (ADSK) were gaining by 2.28% to $92.10 on Monday afternoon, following a rating upgrade to "overweight" from "equal weight" at Morgan Stanley. The firm has set a price target of $115 on the design software and services company.

The rating change is due to increased visibility towards a subscription model, TheFly says. This will yield more cash flow from a "sticky" customer base.

The firm sees greater cash flow yield from several initiatives that will better monetize the 20 million or more installed base.

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