Analysts have been eager to weigh in on the Technology sector with new ratings on Cadence Design (CDNS) and International Business Machines (IBM).
Cadence Design (CDNS)
Credit Suisse analyst John Pitzer maintained a Hold rating on Cadence Design yesterday and set a price target of $80.00. The company’s shares closed last Friday at $99.81, close to its 52-week high of $102.08.
According to TipRanks.com, Pitzer is a top 100 analyst with an average return of 21.5% and a 73.1% success rate. Pitzer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Keysight Technologies, and NXP Semiconductors.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cadence Design with a $98.29 average price target.
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International Business Machines (IBM)
In a report released yesterday, Matthew Cabral from Credit Suisse maintained a Buy rating on International Business Machines, with a price target of $150.00. The company’s shares closed last Friday at $124.35.
According to TipRanks.com, Cabral is a 2-star analyst with an average return of -0.5% and a 52.8% success rate. Cabral covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Dell Technologies, and Pure Storage.
International Business Machines has an analyst consensus of Moderate Buy, with a price target consensus of $135.43, an 8.9% upside from current levels. In a report issued on July 8, Stifel Nicolaus also maintained a Buy rating on the stock with a $147.00 price target.
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