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Fly News Breaks for August 18, 2016
SNPS
Aug 18, 2016 | 09:12 EDT
Needham analyst Richard Valera raised his price target for Synopsys to $60 from $54 after the company delivered upside top and bottom line results in Q3 and increased its 2016 guidance. The analyst believes Synopsys is gaining share in its hardware business, while also "holding its own" on renewals with its consolidated semi customers. Valera expects the company to continue to perform "solidly" despite the tough macro backdrop. He reiterates a Buy rating on the shares.
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