From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 1m
Synopsys Shares Jump After Analyst Upgrades
Synopsys stock rises 7.6% as four Wall Street firms boost price targets.
In brief
Synopsys stock rises 7.6% as four Wall Street firms boost price targets. Synopsys shares surged 7.6% to $467.85 after Wells Fargo, Keybanc, Rosenblatt, and HSBC raised price targets to $540, $605, $620, and $700 respectively. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
Synopsys Shares Surge
Synopsys shares surged 7.6% to $467.85 on Thursday after four major Wall Street firms raised their price targets on the software infrastructure company.
Wells Fargo Upgrades Target
Wells Fargo upgraded its price target from $475 to $540 while maintaining an Overweight rating.
Keybanc Lifts Target
Keybanc lifted its target to $605 from $600, keeping an Overweight stance.
Rosenblatt Moves Target
Rosenblatt moved to $620 from $575 with a Buy rating.
HSBC Raises Target Aggressively
HSBC raised its target from $490 to $700 while reiterating a Buy rating.
Average Target Change
The average target change across the four firms was 15.2%, signaling a substantial revision in Wall Street’s outlook for the $93.0 billion chip design software provider.
What to remember
Synopsys shares surged 7.6% to $467.85 after Wells Fargo, Keybanc, Rosenblatt, and HSBC raised price targets to $540, $605, $620, and $700 respectively.
