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Cadence Design Systems Inc. Message Board

  • lakers_w lakers_w Jan 14, 2010 8:13 PM Flag

    Zacks maintains its "Underperform" rating on Cadence shares

    On Jan 4, 2010, Zacks Investment Research issued the following:

    Bear of the Day:

    Cadence (Nasdaq: CDNS) reported weak results for the third quarter, and
    blamed the shortfall on softness in EDA spending. We expect that a
    turnaround is going to take time due to mounting financial problems
    leading to lackluster growth.

    Fourth quarter and 2009 guidance was not encouraging. Although Cadence
    is offering new products and taking cost-cutting measures, we are not
    confident in the company's ability to grow and show healthy fundamentals
    over the near term. Cadence also withdrew its bid for Mentor Graphics
    in 2008, further dimming its growth prospects.

    Cadence recently came out with enhanced versions of its products, but it
    will take time for these to generate additional revenue. 2011 estimates
    have been added.

    We maintain an Underperform rating on the shares a six-month price target
    of $4.50 per share.

    Zacks Investment Research was formed in 1978 by Leonard Zacks. A PhD in
    mathematics, Len finds patterns in stock market data that leads to superior
    investment results. His proprietary stock picking system, the Zacks Rank,
    outperforms the market by nearly a 3-to-1 margin.

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CDNS
16.94-0.13(-0.76%)1:10 PMEDT

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