Autodesk (ADSK) is positioned to deliver a "typical" fiscal Q2 earnings beat as healthy spending trends and stable demand across end markets support growth, UBS Securities said Friday in a report.

Q2 revenue is expected to rise about 16% from a year earlier with billings growth of 10%, and Autodesk may lift its fiscal 2027 organic revenue growth outlook to 10.5% from 10%, UBS said.

The recent acquisition of MaintainX may add $60 million in fiscal 2027 revenue, or 1 percentage point of growth, the report said. Autodesk is expected to reaffirm its 39% operating margin target despite near-term dilution from the deal, RBC said.

Demand remains stable across data centers, infrastructure, power, healthcare and industrial projects, while customers generally prefer Autodesk's embedded AI tools over developing their own, the report said.

Steady performance should "reinforce investor comfort" in Autodesk's path to low-teens growth, RBC said.

Q2 results are expected Thursday.

UBS has a buy rating on Autodesk stock and a $290 price target.

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