Credit Suisse Starts Synopsys (SNPS) at Outperform
Get Alerts SNPS Hot Sheet
Rating Summary:
23 Buy, 1 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 12 | Down: 9 | New: 12
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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."
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 $59.62 yesterday.
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