Synopsys initiated with a Buy at Goldman Sachs

Goldman Sachs analyst James Schneider initiated coverage of Synopsys (SNPS) with a Buy rating and $620 price target The firm initiated the U.S. digital semiconductor and electronic design automation software group, saying it is most constructive on merchant silicon and EDA vendors tied to artificial intelligence related capital spending. The AI investment cycle is in a state of transition, but can sustain growth from current levels, the analyst tells investors in a research note.