Synopsys price target raised to $600 from $505 at Wells Fargo

Wells Fargo raised the firm’s price target on Synopsys to $600 from $505 to reflect recent price performance ahead of earnings, while keeping an Overweight rating on the shares. The firm notes that November 29th will be an important date as “we will get FY24 guidance for the first time.” Whether it is good enough to keep the stock at current levels is key, Wells adds.