Cadence Design price target lowered to $310 from $330 at BofA
The Fly

Cadence Design price target lowered to $310 from $330 at BofA

BofA analyst Vivek Arya lowered the firm’s price target on Cadence Design (CDNS) to $310 from $330 and keeps a Buy rating on the shares. The stock has underperformed in calendar 2024, but the firm expects “a steadier/more predictable pace of recovery” in calendar 2025 to “help rejuvenate performance,” says the analyst, who models sales growth of 12%-13% annually in 2025/26, but tweaks down 2025/26 pro-forma EPS slightly by about 2% each to $6.81 and $7.94, respectively.

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