BofA raised the firm’s price target on Cadence Design (CDNS) to $400 from $350 and keeps a Buy rating on the shares. The company’s $50M calendar year 2025 revenue raise is “perhaps strongest in recent memory,” says the analyst, who notes Cadence’s strong leverage to AI proliferation, 3D integrated circuits and advanced 2nm and advanced designs. The firm, which identifies Cadence as its top EDA pick, also believes China exposure is effectively derisked for the time-being with the cooling of trade tensions.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CDNS:
- Cadence Design price target raised to $405 from $358 at KeyBanc
- Cadence Design price target raised to $405 from $365 at Wells Fargo
- Cadence Design’s Strategic Positioning in AI and Semiconductor Technologies Drives Buy Rating Amidst Growth Prospects and Risk Mitigation
- Cadence Design’s Strong Outlook and Revised Price Target Justify Buy Rating
- Cadence Design’s Strong Financial Performance and Growth Prospects Lead to Buy Rating and Increased Price Target