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CDNS

Cadence Design

$65.97

0.42 (0.64%)

, SNPS

Synopsys

$138.90

0.65 (0.47%)

16:07
10/11/19
10/11
16:07
10/11/19
16:07

Cadence Design upgraded to Outperform following pullback at Wells Fargo

As previously reported, Wells Fargo analyst Gary Mobley upgraded Cadence Design (CDNS) to Outperform from Market Perform following the stock's recent selloff and underperformance compared to peers Synopsys (SNPS) and Ansys (ANSS). He has raised his "Street-high" FY21 estimates based on his belief that the company should see initial revenue from its recent launch of two new products for the systems analysis market, Clarity and Celsius, the analyst noted. Diversification is key for Cadence given that the company, along with Synopsys, already have nearly 70% market share in the EDA software tools market, Mobley added in his upgrade note. He raised his price target on Cadence shares to $80, up from $70.

CDNS

Cadence Design

$65.97

0.42 (0.64%)

SNPS

Synopsys

$138.90

0.65 (0.47%)

ANSS

Ansys

$224.97

4.19 (1.90%)

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    Nov

CDNS Cadence Design
$65.97

0.42 (0.64%)

09/23/19
BOFA
09/23/19
INITIATION
Target $171
BOFA
Buy
Synopsys resumed with a Buy at BofA/Merrill
BofA/Merrill analyst Adam Gonzalez resumed coverage of Synopsys (SNPS) with a Buy rating and a Street-high price target of $171, citing the company's position as a leading supplier of chip/electronic design automation software, hardware and intellectual property. The analyst adds that Synopys has expanded beyond its chip design core business to "growth-enhancing" enterprise software security, which he believes can propel its revenue growth rate to 200bps above that of Cadence Design (CDNS) over the next 3 years.
09/23/19
BOFA
09/23/19
INITIATION
Target $73
BOFA
Neutral
Cadence Design initiated with a Neutral at BofA/Merrill
BofA/Merrill analyst Adam Gonzalez initiated Cadence Design with a Neutral and $73 price target citing limited operating leverage and fair valuatin.
10/11/19
WELS
10/11/19
UPGRADE
Target $80
WELS
Outperform
Cadence Design upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Gary Mobley upgraded Cadence Design to Outperform from Market Perform with an $80 price target.
09/11/19
JPMS
09/11/19
INITIATION
Target $157
JPMS
Neutral
Synopsys assumed with a Neutral at JPMorgan
JPMorgan analyst Jackson Ader assumed coverage of Synopsys (SNPS) with an unchanged Neutral rating and raised his price target for the shares to $157 from $138. The analyst prefers to own Synopsys over Cadence Design Systems (CDNS) for the remainder of the year. He believes Synopsys shares stand to benefit more from any improvement in trade negotiations than Cadence Design. Further, some recent product initiatives at Synopsys can lead to incremental share gains, Ader tells investors in a research note.
SNPS Synopsys
$138.90

0.65 (0.47%)

09/11/19
JPMS
09/11/19
INITIATION
Target $75
JPMS
Neutral
Cadence Design assumed with a Neutral at JPMorgan
JPMorgan analyst Jackson Ader assumed coverage of Cadence Design Systems (CDNS) with an unchanged Neutral rating and lowered his price target for the shares to $75 from $78. The analyst prefers to own Synopsys (SNPS) over Cadence for the remainder of the year. He believes Synopsys shares stand to benefit more from any improvement in trade negotiations than Cadence Design.
10/10/19
RBCM
10/10/19
NO CHANGE
Target $164
RBCM
Top Pick
RBC Capital backs Top Pick rating on Synopsys after meeting with management
RBC Capital analyst Mitch Stevens reiterated a Top Pick rating and $164 price target on Synopsys after holding investor meetings with the company's CFO and Senior IR manager, telling investors in a research note that he remains positive on the health of the EDA industry and the company's ability to execute on its long-term business model. Stevens says he has high conviction in the company's ability to reach high 20s operating margins by 2021E, thinks Semiconductor IP and Software Integrity quarterly revenue will see higher oscillation due to timing of wins, and, from a capital allocation perspective, thinks buybacks continue to be the preferred method of shareholder return.
ANSS Ansys
$224.97

4.19 (1.90%)

09/13/19
GRIF
09/13/19
UPGRADE
GRIF
Buy
Ansys upgraded to Buy from Neutral at Griffin Securities
Griffin Securities analyst Jay Vleeschhouwer upgraded Ansys to Buy from Neutral and established a $240 price target.
09/12/19
JPMS
09/12/19
NO CHANGE
JPMS
Neutral
Ansys margin outlook below prior range amid investments, says JPMorgan
JPMorgan analyst Jackson Ader says the biggest news from Ansys' analyst day came during the financial outlook when CFO Maria Shields laid out annual contract value growth expectations of 11% through 2022 with margins in the 42%-44% range. This is an increase from the double-digit organic growth that was the target from 2017-2020, but the margin profile is below the previous range, Ader tells investors in a research note. He believes growth continues to be Ansys' top priority with investments being increased to drive it. The analyst keeps a Neutral rating on the shares. The stock in afternoon trading is down 1.5% to $211.39.
09/11/19
JPMS
09/11/19
UPGRADE
Target $228
JPMS
Neutral
Ansys assumed with a Neutral from Underweight at JPMorgan
JPMorgan analyst Jackson Ader assumed coverage of Ansys and upgraded the shares to Neutral from Underweight with a price target of $228, raised from $190. The analyst sees Ansys as the most defensive name in the cyclical Simulation and Optimization Software sector, with its "industry diversity" and a 40%-plus margin profile "providing flexibility in a down market." However, the shares are currently trading at 35 times estimated 2020 free cash flow, "well beyond" the industry average of 22 times over the last 10 years, Ader tells investors in a research note.
09/16/19
NEED
09/16/19
NO CHANGE
Target $220
NEED
Buy
Ansys price target raised to $220 from $210 at Needham
Needham analyst Richard Valera raised his price target on Ansys to $220 and kept his Buy rating after its "bullish" Investor Day meeting where the management had forecast the company's total addressable market to triple over the next 7-10 years. The analyst cites the growth of new markets for Ansys which include "autonomy, electrification and digital twin", adding that he has incremental bullishness for the company's ability to beat estimates in the near term as well as its long term growth prospects. Valera notes that he would use any near-term weakness as opportunity to get more aggressive on Ansys stock.

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GM

General Motors

$36.62

0.3 (0.83%)

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GLD

SPDR Gold Shares

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Comcast

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AMZN

Amazon.com

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DLGNF

Dialog Semiconductor

$0.00

(0.00%)

20:17
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HBMD

Howard Bancorp

$16.20

-0.23 (-1.40%)

19:17
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TSLA

Tesla

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-0.69 (-0.27%)

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PUB

People's Utah Bancorp

$28.93

-0.57 (-1.93%)

18:58
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Earnings
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TSLA

Tesla

$254.93

-0.69 (-0.27%)

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MKS Instruments

$94.65

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MKSI

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ALGN

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FFIV

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MX

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PYPL

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LRCX

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NOW

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Equifax

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TSLA

Tesla

$254.93

-0.69 (-0.27%)

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NOW

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Tesla

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PKG

Packaging Corp.

$110.11

1.48 (1.36%)

18:40
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TSLA

Tesla

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18:38
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POOL

Pool Corp.

$206.03

-6.87 (-3.23%)

18:32
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GOOG

Alphabet

$1,259.62

16.835 (1.35%)

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Alphabet Class A

$1,257.88

16.8 (1.35%)

18:29
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Alphabet

$1,259.62

16.835 (1.35%)

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Alphabet Class A

$1,257.88

16.8 (1.35%)

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NFBK

Northfield Bancorp

$16.88

0.04 (0.24%)

18:18
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Earnings
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BRP

BRP Group

$0.00

(0.00%)

18:16
10/23/19
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18:16
Syndicate
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GOOG

Alphabet

$1,259.62

16.835 (1.35%)

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Alphabet Class A

$1,257.88

16.8 (1.35%)

18:04
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Periodicals
Google accused of building spy software curb worker dissent, Bloomberg says »

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Alphabet

$1,259.62

16.835 (1.35%)

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Alphabet Class A

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MSFT

Microsoft

$137.23

0.84 (0.62%)

18:03
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Microsoft sees Q2 Productivity and Business Processes revenue $11.3B-$11.5B »

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TSLA

Tesla

$254.93

-0.69 (-0.27%)

18:02
10/23/19
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18:02
Hot Stocks
Breaking Hot Stocks news story on Tesla »

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ISTR

Investar Holding

$24.00

0.01 (0.04%)

18:01
10/23/19
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18:01
Earnings
Investar Holding reports Q3 EPS 46c, consensus 48c »

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MSFT

Microsoft

$137.23

0.84 (0.62%)

17:58
10/23/19
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17:58
Hot Stocks
Microsoft says 'off to strong start' to FY20 »

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FIBK

First Interstate

$43.01

0.34 (0.80%)

17:53
10/23/19
10/23
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10/23/19
17:53
Earnings
First Interstate reports Q3 EPS 76c, consensus 79c »

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MYGN

Myriad Genetics

$31.58

-0.71 (-2.20%)

, GSK

GlaxoSmithKline

$43.25

0.74 (1.74%)

17:43
10/23/19
10/23
17:43
10/23/19
17:43
Hot Stocks
Myriad Genetics announces FDA approval of myChoice CDx test »

Myriad Genetics (MYGN)…

MYGN

Myriad Genetics

$31.58

-0.71 (-2.20%)

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GlaxoSmithKline

$43.25

0.74 (1.74%)

03/08/13
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