Benchmark: Bullish on the AI-driven EDA outlook, first gives NewThink Technology and Cadence "buy" ratings.

Benchmark recently initiated coverage of leading EDA software companies Synopsys and Cadence Design Systems, giving both a "buy" rating. The development of artificial intelligence, increasing complexity in semiconductor design, and a strong industry fundamentals will bring strong long-term demand for these companies. Benchmark has set a target price of $570 for Synopsys and $450 for Cadence, both of which have significant upside potential from their recent stock prices.