BofA analyst Vivek Arya lowered the firm’s price target on Cadence Design (CDNS) to $375 from $400 and keeps a Buy rating on the shares. Following a “decent Q4/Q1 beat” and FY26 guidance, the firm raised its FY26 and FY27 pro-forma EPS estimates 2% each, but trimmed its multiple given recent software volatility.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CDNS:
- Cadence Design upgraded to Buy from Neutral at Rosenblatt
- Cadence: Durable Growth, Conservative Guidance, and AI-Driven Upside Support Overweight Rating
- Cadence Design price target lowered to $370 from $385 at Morgan Stanley
- Cadence Design price target lowered to $375 from $410 at Wells Fargo
- NVDA, QCOM, AMD: U.S. Chipmakers Race to Tap India’s Fastest-Growing AI Market