Cadence Design price target raised to $375 from $360 at Mizuho

Mizuho raised the firm’s price target on Cadence Design (CDNS) to $375 from $360 and keeps an Outperform rating on the shares following the Q2 beat. The firm believes the increased fiscal 2025 guidance reflects confidence on a turnaround in China after the easing of export restrictions. Management commentary suggests Cadence’s secular drivers, especially around artificial intelligence, remain intact, the analyst tells investors in a research note.