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Autodesk Stock Slips 8% After Analysts Downgrade

Shares of Autodesk, Inc. (ADSK) are slipping nearly 8% on Monday morning after the company's stock was downgraded by analysts, ahead of the design software company's first-quarter results.

ADSK is currently trading at $176.35, down $15.06 or 7.87%, on the Nadsaq. The stock has traded between $

Analysts at Deutsche Bank Aktiengesellschaft downgraded Autodesk's stock from a "buy" rating to a "hold" rating. They now have a $225.00 price target, which is down from prior estimate of $275.00.

Analysts at Royal Bank of Canada downgraded the company's price target from $295.00 to $255.00, while Stifel Nicolaus lowered the price target from $285.00 to $230.00.

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