Synopsys price target raised to $700 from $620 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Synopsys (SNPS) to $700 from $620 and keeps a Buy rating on the shares. The firm updates its financial model following the close of the Ansys acquisition on July 17. Goldman views the acquisition as a strong strategic positive for Synopsys, as it enables product synergies given a convergence of new issues in advanced semiconductor design, with multi-die packages and thermally limited designs becoming increasingly common.