Synopsys (SNPS) an Attractive Stock in Ugly World
Yesterday evening Synopsys (NASDAQ: SNPS) reported Q4 results, with EPS in-line and revenue that beat estimates. It also issued 2013 guidance that was viewed as positive.
Commenting on the results, analyst Richard Valera of Needham and Co. said "Despite all of the macro turmoil, SNPS delivered solid 4QF12 results, highlighted by strong cash flow, and offered a continued positive assessment of the EDA spending landscape, largely consistent with its recently reporting EDA peers."
"With good visibility/momentum entering F2013 we think shares offer an attractive investment in an uncertain environment," concluded Valera.
Needham & Company reiterated a Buy rating on Synopsys (NASDAQ: SNPS) and raised its price target to $38.00 (from $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 $33.33 yesterday, with a 52 week range of $26.33-$34.20.
Commenting on the results, analyst Richard Valera of Needham and Co. said "Despite all of the macro turmoil, SNPS delivered solid 4QF12 results, highlighted by strong cash flow, and offered a continued positive assessment of the EDA spending landscape, largely consistent with its recently reporting EDA peers."
"With good visibility/momentum entering F2013 we think shares offer an attractive investment in an uncertain environment," concluded Valera.
Needham & Company reiterated a Buy rating on Synopsys (NASDAQ: SNPS) and raised its price target to $38.00 (from $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 $33.33 yesterday, with a 52 week range of $26.33-$34.20.