Rosenblatt Downgrades Cadence Design Sys to Neutral, Raises Price Target to $280
Portfolio Pulse from Benzinga Newsdesk
Rosenblatt analyst Blair Abernethy downgraded Cadence Design Systems (CDNS) from Buy to Neutral but increased the price target from $265 to $280.
February 13, 2024 | 1:06 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Cadence Design Systems was downgraded by Rosenblatt from Buy to Neutral, although the price target was raised from $265 to $280.
The downgrade to Neutral suggests a more cautious outlook on CDNS by Rosenblatt, potentially due to valuation or growth concerns. However, the increase in the price target to $280 indicates an expectation of some positive performance. This mixed signal could lead to short-term uncertainty among investors, balancing out potential impacts on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100