Wells Fargo analyst Gary Mobley raised the firm’s price target on Cadence Design to $215 from $205 and keeps an Overweight rating on the shares following quarterly results. The firm notes Cadence "did not disappoint," initially guiding the 2023 revenue MP 360bps above the prior consensus view.
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Read More on CDNS:
- Cadence Design price target raised to $200 from $175 at Rosenblatt
- Cadence Design price target raised to $215 from $206 at Baird
- Cadence Design price target raised to $225 from $205 at BofA
- Cadence Design price target raised to $225 from $215 at KeyBanc
- Cadence Design guides initial FY23 EPS $4.90-$5.00, consensus $4.70