Synopsys price target raised to $660 from $615 at Piper Sandler

Piper Sandler analyst Clarke Jeffries raised the firm’s price target on Synopsys (SNPS) to $660 from $615 and keeps an Overweight rating on the shares. The firm notes Synopsys has completed its acquisition of Ansys, creating a $10B run-rate asset with technology & market leadership across silicon design, systems engineering, and complex simulation software. Over the near-term, Piper believes the next important catalysts for Synopsys will be the reinstatement of guidance with clarity on the impact of temporary China export controls on FY25; new or affirmed information on the financial outcomes of the Synopsys/Ansys combination; and incremental commentary on the China demand environment after recent headlines that point to a modest detente between U.S. & China on semiconductors.