Morgan Stanley lowered the firm’s price target on Synopsys (SNPS) to $540 from $590 and keeps an Overweight rating on the shares. Despite a “solid” Q2 print and unchanged FY25 guidance, reports of a prohibition on the sale of EDA software tools to China overshadowed the results, the analyst tells investors. The firm thinks this puts up to 8%-10% of Synopsys’ FY25 sales at risk and “perhaps a similar amount of earnings,” the analyst added.
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Read More on SNPS:
- Synopsys Pauses China Sales Amid New Chip Design Export Controls
- Synopsys Reports Strong Q2 Amidst China Challenges
- Synopsys Evaluates Impact of New Export Restrictions
- Synopsys suspends guidance on new China export restrictions
- Synopsys drops 2% to $451.55 after suspending outlook on China restrictions
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