Piper Sandler lowered the firm’s price target on Synopsys (SNPS) to $602 from $630 and keeps an Overweight rating on the shares. The firm would argue that Synopsys largely achieved what was needed. That said, organic EDA growth and free cash flow margins are likely to be the main nagging items coming out of the quarter. The company was not precise in its EDA vs. IP growth assumptions, but Piper believes FY26 guidance points to high single digit overall organic growth and low-double digits organic EDA growth.
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