BofA analyst Vivek Arya raised the firm’s price target on Cadence Design to $350 from $330 and keeps a Buy rating on the shares after having hosted CEO Anirudh Devgan and IR Head Richard Gu for investor meetings. Following the meetings, the firm cites an expected acceleration in the second half and potential to reclaim a historical premium for its raised price target on Cadence shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CDNS:
- Largest borrow rate increases among liquid names
- Cadence Design Systems: Leadership Changes and Shareholder Decisions
- Cadence Design, TSMC expand partnership on IP and photonics design
- Cadence Design price target lowered to $318 from $334 at Piper Sandler
- Cadence Design (NASDAQ:CDNS) Sinks on Soft Q2 Guidance