BofA lowered the firm’s price target on Cadence Design (CDNS) to $350 from $365 and keeps a Buy rating on the shares. Following earnings, the firm lowers its calendar year 2025, 2026 and 2027 pro-forma EPS estimates by 1%, 5% and 7%, respectively, but despite a slight FY25 forecast miss, the firm continues to like Cadence for its unique leverage to chip complexity, AI design starts and secular growth in semi R&D across wide range of end markets, the analyst tells investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CDNS:
- Cadence Design price target raised to $295 from $280 at Rosenblatt
- Cadence Design: Sustained Growth Amidst Forecasted Slowdown Justifies Buy Rating
- Cadence Design’s Strategic Positioning and Growth in AI Chip Complexity Drive Buy Rating
- Buy Rating on Cadence Design Systems: Strong Performance and Strategic Positioning Amid Record Backlog and Bookings
- Cadence Design price target raised to $328 from $318 at Piper Sandler