Morgan Stanley lowered the firm’s price target on Cadence Design (CDNS) to $280 from $350 on Friday and kept an Overweight rating on the shares. The firm expects an in-line Q3/Q4 but sees slowing spend in China/foundries acting as a modest headwind to growth into next year. Morgan Stanly trims its FY25 estimates but notes areas of strength too.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CDNS:
- CDNS Earnings this Week: How Will it Perform?
- Oppenheimer says investors will gravitate to Cadence as likely Altair acquirer
- Altair Engineering exploring sale after acquisition interest, Reuters says
- Cadence Design initiated with an Outperform at Mizuho
- 3 Best Stocks to Buy Now, 10/21/2024, According to Top Analysts