There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Cadence Design (CDNS) and Ducommun (DCO) with bullish sentiments.
Cadence Design (CDNS)
Needham analyst Richard Valera maintained a Buy rating on Cadence Design today and set a price target of $86.00. The company’s shares closed last Monday at $77.84, close to its 52-week high of $80.46.
According to TipRanks.com, Valera is a 5-star analyst with an average return of 7.5% and a 58.0% success rate. Valera covers the Technology sector, focusing on stocks such as Zoom Video Communications, Trimble Navigation, and Altair Engineering.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cadence Design with a $85.75 average price target, a 10.3% upside from current levels. In a report issued on April 16, RBC Capital also maintained a Buy rating on the stock with a $85.00 price target.
See today’s analyst top recommended stocks >>
Ducommun (DCO)
In a report released yesterday, Kenneth Herbert from Canaccord Genuity maintained a Buy rating on Ducommun, with a price target of $40.00. The company’s shares closed last Monday at $24.58.
According to TipRanks.com, Herbert is a 5-star analyst with an average return of 11.5% and a 61.8% success rate. Herbert covers the Technology sector, focusing on stocks such as Rada Electronics Industries, Aerojet Rocketdyne Holdings, and CPI Aerostructures.
Ducommun has an analyst consensus of Strong Buy, with a price target consensus of $41.50.
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