UPDATE: Canaccord Genuity Raises PT to $20 on Mentor Graphics on Demand Strength

Canaccord Genuity reiterated its Buy rating on Mentor Graphics

and increased its price target from $18 to $20. Canaccord Genuity commented, "We reiterate a BUY rating for MENT following in-line results and guidance, and positive commentary on EDA and emulation demand. We believe a logic centric ramp of 28nm (and below) capacity is driving accelerating design activity, yielding better core EDA demand and dramatic emulation growth. We see MENT as well positioned to benefit from both trends." Mentor Graphics closed at $16.24 on Thursday.