Synopsys price target raised to $505 from $450 at Wells Fargo

Wells Fargo raised the firm’s price target on Synopsys (SNPS) to $505 from $450 and keeps an Equal Weight rating on the shares. While valuation is undemanding into Q2 EPS, the firm thinks Synopsys needs to deliver a beat / raise and increase 2026 guidance by at least the amount of first half of the year beat, which is a relatively high bar vs prior years.