Cadence Design Systems Stock (CDNS): $205 Price Target From KeyBanc

By Amit Chowdhry ● Updated January 14, 2022
  • The shares of Cadence Design Systems Inc (NASDAQ: CDNS) have received a $205 price target from KeyBanc. These are the details.

The shares of Cadence Design Systems Inc (NASDAQ: CDNS) have received a $205 price target from KeyBanc. And KeyBanc analyst Jason Celino increased the price target on Cadence Design from $186 while maintaining an “Overweight” rating on the shares.

Celino noted that he believes a new phase of consistent double-digit EDA industry growth has begun — which combined with Synopsys and Cadence’s steady runway for potential OM expansion — makes the EDA subsector one of the most durable growth areas in the software market.

But despite notable outperformance in 2021, Celino is again highlighting EDA as one of his most durable thematic ideas in 2022.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.