Seeking Alpha

Cadence closing higher following D.A. Davidson upgrade

  • Analyst Thomas Diffely has upgraded Cadence (CDNS +2.9%) to to Buy, arguing the chip design (EDA) software vendor is seeing "healthy design activity" in core markets, and has an attractive valuation (7.6x 2014E EV/EBITDA, below a peer group average of 8.5x).
  • Diffely has set a PT of $16, or 15x 2014E EPS after factoring net cash.
  • Cadence has traded in a relatively narrow range over the last 12 months.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|