Canaccord Genuity Maintains a 'Buy' on Mentor Graphics (MENT); Raises Outlook as Bookings Continue Their Expansion

Canaccord Genuity maintains a 'Buy' on Mentor Graphics (NASDAQ: MENT) price target of $13.00.

Canaccord analyst, Bobby Burleson, said, "Strong Design-to-Silicon sales drove upside for revenue and earnings in the quarter. Going forward, Mentor sees a healthy environment for EDA and transportation continuing and has raised F2012 guidance on the heels of 20% Y/Y bookings growth. We reiterate a BUY rating and $13 target. In our view, positive management commentary on core EDA bodes well for LAVA results December 1."

For an analyst ratings summary and ratings history on Mentor Graphics click here. For more ratings news on Mentor Graphics click here.

Shares of Mentor Graphics closed at $11.41 yesterday.

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