BofA raised the firm’s price target on Cadence Design (CDNS) to $350 from $320 and keeps a Buy rating on the shares. After an inline Q1, slightly ahead of expected Q2, and modest FY25 raise, the firm raised its pro-forma EPS estimates by 1% and 2% for calendar year 2025 and 2026, respectively.
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Read More on CDNS:
- Cadence Design price target raised to $325 from $300 at Mizuho
- Cadence Design price target raised to $325 from $293 at Baird
- Cadence Design’s Strong Performance and AI-Driven Growth Justify Buy Rating
- Cadence Design Systems: Resilient Performance and Stable Outlook Amid Economic Uncertainty
- Cadence Design’s Strong Recurring Revenue Growth and Positive Guidance Justify Buy Rating
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