Mizuho initiated coverage of Cadence Design (CDNS) with an Outperform rating and $325 price target Electronic design automation is a “stable oligopoly,” characterized by “durable” revenue streams and high margins, the analyst tells investors in a research note. The firm believes Cadence Design is “uniquely positioned” given that its software remains critical to producing the GPUs needed for driving the $100 trillion artificial intelligence industrial revolution.
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