Wells Fargo analyst Joe Quatrochi lowered the firm’s price target on Synopsys (SNPS) to $520 from $540 and keeps an Equal Weight rating on the shares. The firm notes shares are up modestly as Synopsys delivered a clean Q1 print and reiterated 2025 guide despite incremental China demand weakness. With continued regulatory progress, Wells expects shares to remain range bound as focus continues on a first half of 2025 Ansys deal close.
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Read More on SNPS:
- Synopsys: Strong Financial Performance and Promising Growth Outlook Amidst Challenges
- Synopsys Reports Strong Q1 2025 Earnings
- Closing Bell Movers: Snowflake up 11%, Nvidia little changed after earnings
- Synopsys reports Q1 non-GAAP EPS $3.03, consensus $2.79
- Synopsys sees Q2 non-GAAP EPS $3.37-$3.42, consensus $3.37
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