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Cadence Design price target raised to $400 from $350 at BofA

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.

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