KeyBanc analyst Jason Celino resumed coverage of PTC (PTC) with an Overweight rating and a $111 price target. The analyst believes the company has several upside drivers to watch, and continues to benefit from model transition tailwinds. His resellers checks add confidence that Rockwell (ROK) and Ansys (ANSS) partnerships present catalysts for IoT growth and the core business, which could be beginning to ramp.

Ansys (ANSS) announced a collaboration with TSMC (TSM) on multiphysics software for TSMC's Compact Universal Photonic Engines. COUPE is a cutting-edge Silicon Photonics integration system and Co-Packaged Optics platform that mitigates coupling loss while significantly accelerating chip-to-chip and machine-to-machine communication. TSMC COUPE, along with Ansys multiphysics solutions that are integrated with Synopsys' 3DIC Compiler unified exploration-to-signoff platform, enables the next generation of silicon photonics and co-packaged optics designs for applications in AI, datacenter, cloud, and HPC communications. The work spans multiple areas, including fiber-to-chip coupling, integrated electronic-photonic chip design, power integrity verification, high-frequency electromagnetic analysis, and critical thermal management.