Synopsys price target lowered to $550 from $650 at Stifel

Stifel analyst Ruben Roy lowered the firm’s price target on Synopsys (SNPS) to $550 from $650 and keeps a Buy rating on the shares after the company reported a fiscal Q3 miss driven by weakness in Design IP that “predominantly” stemmed from cautious China customer behavior post-BIS restrictions and a lack of Intel-related (INTC) opportunities otherwise expected to have materialized in the second half. Citing limited visibility into Intel’s roadmap and a strategic reorganization of the IP segment, management now expects IP to remain muted into FY26, the analyst tells investors. While the firm cut estimates, it remains positive longer-term and thinks that the rest of the business outside IP is tracking as planned and should perform within previous expectations for FY26.