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Fly News Breaks for December 5, 2019
SNPS
Dec 5, 2019 | 08:55 EDT
Needham analyst Richard Valera raised his price target on Synopsys to $150 after its Q4 earnings beat and "solid" initial FY20 guidance. The analyst notes that while the outlook is back-half weighted, the company's "design-driven fundamentals" are still "healthy", estimating Synoposys growing its revenue at high-single-digit rate and its earnings growth also accelerating. Valera also raised his FY20 EPS view by 19c to $5.19 and initiated a FY21 EPS forecast of $5.74.
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