Piper Sandler lowered the firm’s price target on Synopsys (SNPS) to $655 from $670 and keeps an Overweight rating on the shares following Q4 results. Piper told investors FY25 revenue guidance came in lower than the firm expected even considering its lowered estimates in late October on the impacts of the 53rd week and divestiture of the Optical Solutions Group. The firm believes this hiccup in the growth outlook will be a near-term overhang on the stock, only partially offset by continued progress on EBIT margins to 40% next year.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNPS: