UPDATE: D.A. Davidson Upgrades Cadence Design Systems on Multiple Positive Factors

In a report published Thursday, D.A. Davidson analyst Thomas Diffely upgraded the rating on Cadence Design Systems (NASDAQ: CDNS ) from Neutral to Buy, and reiterated the $16.00 price target. In the report, D.A. Davidson noted, “Upgrading shares to BUY based on 1) healthy design activity in the core EDA