Credit Suisse Starts Cadence Designs (CDNS) at Neutral

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."

For an analyst ratings summary and ratings history on Cadence Designs click here. For more ratings news on Cadence Designs click here.

Shares of Cadence Designs closed at $26.24 yesterday.

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