Rosenblatt upgraded Cadence Design (CDNS) to Buy from Neutral with a price target of $360, up from $335. The firm views the company’s Q4 results as solid “across the board.” Rosenblatt cites the stock’s pullback since September and its view that AI is a “tailwind and not a threat” to Cadence Design for the upgrade.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CDNS:
- Cadence: Durable Growth, Conservative Guidance, and AI-Driven Upside Support Overweight Rating
- Cadence Design price target lowered to $370 from $385 at Morgan Stanley
- Cadence Design price target lowered to $375 from $410 at Wells Fargo
- NVDA, QCOM, AMD: U.S. Chipmakers Race to Tap India’s Fastest-Growing AI Market
- Closing Bell Movers: Palo Alto Networks down 8% on soft guidance