Wells Fargo initiated coverage of Cadence Design (CDNS) with an Overweight rating and $350 price target The firm thinks a ramping hardware cycle into 2025 can drive accelerating revenue growth for Cadence, which is not fully factored into Street estimates. Cadence is well positioned longer term to benefit from artificial intelligence monetization, the analyst tells investors in a research note.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
