Friday, February 1, 2008

Analyst downgrades on Cadence (CDNS)

Analysts were out with a bunch of downgrades on Cadence after the bad guidance yesterday. See Cadence (CDNS) - Decision making in the face of uncertainty for more details.

* Tim Fox, Deutsche Bank: Cut to Hold from Buy
* Sterling Autry, J.P. Morgan: Cut to Underweight from Neutral
* Harlan Sur, Morgan Stanley: Cut to Equal Weight from Overweight
* Jay Vleeschhouwer, Merrill Lynch: Cut to Neutral from Buy
* S&P: Cut to 3-star from 4-star

Today, CDNS is up almost 5%. Is it just me or are analysts usually behind the curve?

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