Baird raised the firm’s price target on Cadence Design to $223 from $215 and keeps an Outperform rating on the shares. The analyst said results reflect continued momentum in upfront revenues around verification hardware and software growth spearheaded by System Design.
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Read More on CDNS:
- Cadence Design price target raised to $235 from $225 at KeyBanc
- Cadence Design raises FY23 EPS view to $4.96-$5.04, consensus $4.98
- Cadence Design sees Q2 EPS $1.15-$1.19, consensus $1.25
- Cadence Design reports Q1 EPS $1.29, consensus $1.25
- Cadence Design options imply 2.8% move in share price post-earnings