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Fly News Breaks for May 23, 2018
SNPS
May 23, 2018 | 21:14 EDT
JPMorgan analyst Sterling Auty kept his Underweight rating and $87 price target on Synopsys after its Q2 results. The analyst says that after two quarters of "significant upside" in revenue, Q2 results were more in line, adding that the raised guidance for FY18 suggests that bookings upside may be spilling into the second half of the year. Auty notes that the company is benefiting from strength in the auto demand coming from several angles, with more software and hardware technology being pushed into cars. Longer term, the analyst believes that the positive fundamentals are baked into the price.
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