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Berenberg Bank Reaffirms Their Buy Rating on Cadence Design (CDNS)

Tipranks - Tipranks - Fri Feb 20, 5:08AM CST

Berenberg Bank analyst maintained a Buy rating on Cadence Design yesterday and set a price target of $380.00. The company’s shares closed yesterday at $305.01.

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The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cadence Design with a $369.08 average price target, implying a 21.01% upside from current levels. In a report released yesterday, Needham also maintained a Buy rating on the stock with a $390.00 price target.

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Based on Cadence Design’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.34 billion and a net profit of $287.12 million. In comparison, last year the company earned a revenue of $1.22 billion and had a net profit of $238.11 million

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