Wells Fargo raised the firm’s price target on Cadence Design (CDNS) to $365 from $350 and keeps an Overweight rating on the shares. The firm says that its meetings with management reiterated Cadence’s strong positioning to benefit from AI in multiple ways across AI infrastructure and physical system design/development, while Wells remains positive on expanding EDA spend opportunities at Intel (INTC) over time.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CDNS:
- Lone Pine buys Carvana, boosts Intuit in Q1
- Cadence Design price target raised to $375 from $355 at KeyBanc
- Cadence Design’s Promising Growth: Buy Rating Backed by Strong Hardware Outlook and Strategic Initiatives
- Cadence Design Expands Share Repurchase Program
- Cadence introduces Millennium M2000 Supercomputer featuring Nvidia Blackwell