Analysts Positive on Synopsys (SNPS) Acquisition of EVE

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Commenting on the Synopsys (SNPS) acquisition of EVE, analysts at Needham and Company said, "We are positive on SNPS' acquisition of emulation provider EVE as we see the deal as highly complementary and giving SNPS a place in a high-growth market."

"While the incremental impact on our F2013 numbers is likely to be modest due to sheer scale of SNPS vs. EVE, we nonetheless see it as contributing incrementally," said analyst Richard Valera.

Needham & Company maintained a rating Buy Synopsys (NASDAQ: SNPS) with a price target of $36.00.

For an analyst ratings summary and ratings history on Synopsys click here. For more ratings news on Synopsys click here.

Shares of Synopsys closed at $32.86 yesterday, with a 52 week range of $24.14-$34.20.

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