Synopsys price target raised to $630 from $600 at BofA

BofA raised the firm’s price target on Synopsys (SNPS) to $630 from $600 and keeps a Buy rating on the shares. The firm believes FY25 is “largely on track despite lumpiness” and argues that Synopsys and its Electronic Design Automation and Intellectual Property peers remain “uniquely levered to secularly rising chip design complexity” and AI design starts, which should drive consistent double-digit sales growth.