Shares of

Autodesk

(ADSK) - Get Report

spiked on Friday after a positive analyst report.

Stock in the San Rafael, Calif.-based, computer-aided design company rose 5.8% in recent trading, adding $1.83 to $33.31, on higher-than-normal volume.

"Given the company's sustainable competitive advantages and opportunity for operating-margin leverage, we believe Autodesk remains well positioned for robust future revenue, operating profit, and free cash-flow growth," Credit Suisse analyst Philip Winslow wrote in a Thursday note.

Credit Suisse initiated coverage on the company with an outperform rating and a 12-month target price of $42.

It was a nice lift for the stock, which, due to a number of factors, has fallen 9% since the company's

latest partial earnings report on August 17. Autodesk provided only revenue numbers because of a voluntary, internal stock-options probe.

Earlier this week, Autodesk disclosed that the

Securities and Exchange Commission

asked for information related to its stock-options practices after the commission learned of Autodesk's internal probe.

The company also said it would fail to file its 10-Q by the Sept. 11 deadline, or Sept. 18 extended deadline, because of the ongoing internal investigation.

Investors also reacted negatively to news that Autodesk inked a $33 million deal to acquire

Robobat

, a privately held company based in Grenoble, France that makes software for structural engineering analysis, design, and steel and concrete detailing.

For its latest partial results, the company reported $450 million in sales for its second quarter, growing from $436 million in the same period last year. Thomson First Call analysts polled had forecast an EPS of 35 cents on sales of $446.3 million.

The company's third-quarter guidance was in the range of what analysts anticipated. Autodesk expects revenue between $450 million and $460 million. Analysts expect an EPS of 38 cents on sales of $457 million.

In his note, Winslow listed four factors that could drive the company's future stock price, such as customers' migration from Autodesk's 2D AutoCAD products to its higher-priced 3D products; the company's expanding market share in the manufacturing vertical; better margin expansion than consensus expectations; and attractive valuation.

"Autodesk currently trades at a next-12-months P/E multiple of 19.7 times our above consensus estimates, which is a slight discount to the broader software industry's median of 21.9 times," he wrote. "Autodesk, however, is expected to grow earnings more than 24% over the next 12 months, as compared to the broader software average of approximately 13-15%."

"We believe that Autodesk has sustainable technology and competitive advantages in an attractive growth market, and we expect the stock to outperform our sector and the

S&P 500

," he wrote.

Credit Suisse has a banking relationship with Autodesk.