Analyst Confidence Rises for Synopsys Following Strategic Acquisition

Shares of Synopsys, the semiconductor design software leader, closed Friday’s session at $480.42, marking a gain of 2.28%. This upward movement was primarily fueled by a significant price target revision from the investment firm Loop Capital, which now sees the stock reaching $600.

In a research note issued Friday morning, Loop Capital reaffirmed its Buy rating on Synopsys while raising its price objective from $570 to $600. The firm’s analysts expressed confidence in the company’s growth trajectory following its acquisition of Ansys, citing effective operational execution and the long-term value creation potential of the combined product suite. The strategic fusion of Synopsys’s core chip-design tools with Ansys’s simulation technology is viewed Read more...