Synopsys initiated with an Outperform at Mizuho

Mizuho initiated coverage of Synopsys (SNPS) with an Outperform rating and $650 price target Electronic design automation is a “stable oligopoly,” characterized by “durable” revenue streams and high margins, the analyst tells investors in a research note. The firm believes Synopsys is “uniquely positioned” given that its software remains critical to producing the GPUs needed for driving the $100 trillion artificial intelligence industrial revolution.