Baird analyst Joe Vruwink raised the firm’s price target on Cadence Design to $257 from $253 and keeps an Outperform rating on the shares. The firm said results were solid and with 2H23 bookings improving and FY24 estimates having room to move higher, they look favorably to add on pullbacks.
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Read More on CDNS:
- Cadence (NASDAQ: CDNS) Slips Even after Better-than-Expected Q2 Earnings
- Cadence Design raises FY23 EPS view to $5.05-$5.11 from $4.96-$5.04
- Cadence Design reports Q2 adjusted EPS $1.22, consensus $1.18
- Cadence Design options imply 3.4% move in share price post-earnings
- Notable companies reporting after market close