Mizuho raised the firm’s price target on Cadence Design (CDNS) to $360 from $325 and keeps an Outperform rating on the shares as part of a Q2 preview. The firm believes the quarter will reflect temporary China headwinds due to the recent export restrictions. However, with that overhang now lifted, Cadence’s China revenue will normalize while its broader business remains healthy, the analyst tells investors in a research note.
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