Atlantic Equities analyst Peter Sazel upgraded Cadence Design (CDNS) to Overweight from Neutral with a $200 price target after assuming coverage of the stock. Cadence and Synopsys (SNPS) command over 60% market share in the electronic design automation, or EDA, market, noted Sazel, who sees both EDA companies benefiting from a sustainable advantage in economies of scale and predictable, highly-recurring subscription revenues.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CDNS:
- Cadence Design Chair sells $6.58M in common stock
- Early notable gainers among liquid option names on December 16th
- Street Wrap: Today’s Top 15 Upgrades, Downgrades, Initiations
- Cadence Design upgraded at BofA with China worries proven ‘overly conservative’
- Cadence Design upgraded to Buy from Neutral at BofA
