Credit Suisse Starts Synopsys (SNPS) at Outperform
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- After-Hours Stock Movers 12/08: (FNSR) (AVGO) (GLPG) Higher; (XTLY) (RH) (DLTH) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Credit Suisse initiates coverage on Synopsys (NASDAQ: SNPS) with a Outperform rating and a price target of $68.00, calling it a software company trading at a semi valuation.
Analyst Farhan Ahmad commented, "We are initiating coverage of SNPS with an Outperform rating and a $68 target price. Our FY17 EPS estimate is ~3% above the Street, and we see potential for multiple expansion given that the stock is trading at a ~25% discount to broader engineering software. SNPS is the largest EDA company and stands to benefit as Semi growth shifts from consumer to IAI/IoT. In addition, 25% of revenues are from Semi IP, which is growing at a 10%+ CAGR and would enable the company to grow 2 pts above the EDA industry. Risks include customer consolidation and increased competition."
Shares of Synopsys closed at $59.62 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Stifel Downgrades Timken (TKR) to Hold
- MKM Partners Raises Price Target on Ollie's Bargain Outlet (OLLI) Following 3Q
- BMO Capital Cuts Price Target on Comtech Telecom (CMTL) to $16 Following 1Q
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesCredit Suisse
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!