Credit Suisse Starts Cadence Designs (CDNS) at Neutral
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Credit Suisse initiates coverage on Cadence Designs (NASDAQ: CDNS) with a Neutral rating and a price target of $25.00, saying shares are fairly priced.
Analyst Farhan Ahmad commented, "We are initiating coverage of CDNS with a Neutral rating and $25 target price. The company has made a solid turnaround and delivered strong revenue and earnings growth under a stellar management team. However, its valuation is less attractive than those of SNPS and MENT."
Shares of Cadence Designs closed at $26.24 yesterday.
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