Cadence Design price target lowered to $200 from $225 at Oppenheimer

Oppenheimer lowered the firm’s price target on Cadence Design (CDNS) to $200 from $225 and keeps an Underperform rating on the shares. The firm notes Cadence has declined sharply since issuing disappointing 2025 guidance, but has rebounded 10% off lows. With the stock near its cautious price target Oppenheimer reassessed its thesis and reaffirms that the challenges extend beyond a cyclical slowdown. Growth deceleration, AI-driven disruption, and valuation compression remain intact. While a further technical bounce is possible, moribund growth and onerous 60-turns 2025 price to earnings make sustained outperformance unlikely, the firm adds.