Morgan Stanley Upgrades Cadence Design Sys to Overweight, Raises Price Target to $350
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Lee Simpson upgraded Cadence Design Systems (CDNS) from Equal-Weight to Overweight and increased the price target from $260 to $350.

February 14, 2024 | 12:58 pm
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POSITIVE IMPACT
Cadence Design Systems was upgraded by Morgan Stanley from Equal-Weight to Overweight with a price target increase from $260 to $350.
The upgrade from Equal-Weight to Overweight by a major financial institution like Morgan Stanley, accompanied by a significant increase in the price target, is a strong positive signal to the market. This suggests a bullish outlook on the stock by the analyst, which can lead to increased investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100