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.
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’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
- Cadence Design price target raised to $390 from $330 at JPMorgan
- Piper downgrades Cadence Design on valuation after ‘strong’ Q2