Baird analyst Joe Vruwink downgraded Ansys (ANSS) to Neutral from Outperform with a price target of $396, up from $349, after China’s State Administration for Market Regulation announced approval of the company’s proposed takeover by Synopsys (SNPS) with conditions.
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Read More on ANSS:
- Ansys jumps after China regulator approves Synopsys takeover
- Synopsys’ acquisition of Ansys conditionally approved by China, Reuters reports
- Ansys Stockholders Approve Key Proposals at Annual Meeting
- Synopsys, Ansys provide update on expected timing of merger
- China delays approval of Synopsys, Ansys merger, FT reports