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Cadence Design price target raised to $395 from $350 at Stifel

Stifel analyst Ruben Roy raised the firm’s price target on Cadence Design (CDNS) to $395 from $350 and keeps a Buy rating on the shares following a “strong” Q2 beat and FY25 guidance raise. The firm, which is “encouraged by the beat-and-raise,” believes the FY25 outlook is “conservative,” the analyst tells investors.

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