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Fly News Breaks for October 10, 2016
CDNS
Oct 10, 2016 | 08:29 EDT
As noted earlier, DA Davidson upgraded Cadence to Buy from Neutral. Analyst Thomas Diffely says that "solid EDA industry fundamentals" and the "strong operating models" of companies in the sector are causing investors to appreciate EDA stocks' long-term potential. Consequently, he thinks that Cadence deserves a higher multiple. Target to $30 from $25.
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