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Cadence Design price target raised to $405 from $365 at Wells Fargo

Wells Fargo raised the firm’s price target on Cadence Design (CDNS) to $405 from $365 and keeps an Overweight rating on the shares. The firm notes that despite China disruption, Cadence delivered a solid beat/raise again raising 2025 guide above its Q2 beat. With expectations of B2B over 1.0-turn in the second half of 2025, Wells expects bookings strength and 2026 growth setup to be key driver of shares.

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