Why Cadence Design Systems Stock Crushed It on Thursday

Chips Rhythm design systems (NASDAQ: CDNS) It was aimed at promoting the recommendation on Thursday, and investors have eagerly jumped to stocks. Today it closed 6 % and a higher change, more than three times the percentage of the bell increase S & P 500 index.

The company was behind the promotion is the American banking power Jpmorgan Chase. That morning, Jpmorgan pulled the crane on the upgrade; It now measures the rhythm overweight (i.e. purchase), linking one of the previous neutral. The bank also installed the target price to $ 325 per share from the previous $ 300.

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A lot of change is related to the weakness of the last rhythm prices, according to reports. The bank analysts indicated that at the reduced level, the company trades a price rate (P/E) of 34.

For Jpmorgan, this means it is a deal. The researcher also highlighted what he considers a strong business model for management and its great accumulation, which recorded $ 6.8 billion at the end of 2024. The company must also benefit from the strong demand for devices that can support artificial intelligence functions (AI).

The rhythm shares were subjected to a somewhat fair, due to the uncertainty and turmoil over the current trade conflict between this country and its main commercial partners. You will surely continue to establish the company. However, as an important position in the larger chips machine, he will be an important player by wiping smoke. I agree with JPMorgan Chase as a deal now.

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