Needham raised the firm’s price target on Cadence Design (CDNS) to $390 from $325 and keeps a Buy rating on the shares. Cadence reported strong earnings for Q2 and guided Q3 and fiscal 2025 above the Street, the analyst tells investors in a research note. Needham expects the hardware cycle will run at full strength through the second half of 2025 and into 2026.
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