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Fly News Breaks for October 23, 2018
CDNS
Oct 23, 2018 | 08:26 EDT
As previously reported, Benchmark analyst Gary Mobley upgraded Cadence Design to Buy from Hold following its report of "much" better than expected Q3 results and Q4 guidance as well as the recent pullback in the stock of over 15%. While noting that overall semi sales are decelerating, Mobley said he expects Cadence to drive high-single-digit percentage revenue growth and low-double-digit percentage earnings growth. He set a $51 price target on Cadence shares.
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