gwnelson
2010-08-06, 03:06 PM
NEW YORK (AP) -- A Jefferies analyst lowered his investment rating on shares of Autodesk Inc. (http://topics.nytimes.com/top/news/business/companies/autodesk_inc/index.html?inline=nyt-org) Friday and said the architecture and engineering software maker is experiencing some declining demand in Europe, Africa and the Middle East even as North America remains strong.
Europe, Africa and the Middle East account for 40 percent of the company's sales and ''therefore difficult to ignore,'' wrote Ross MacMillan in a note to investors. He downgraded Autodesk to ''Hold'' from ''Buy'' and reduced his target price on the shares to $31 from $37.
Europe, Africa and the Middle East account for 40 percent of the company's sales and ''therefore difficult to ignore,'' wrote Ross MacMillan in a note to investors. He downgraded Autodesk to ''Hold'' from ''Buy'' and reduced his target price on the shares to $31 from $37.