RBC Capital lowered the firm’s price target on Ansys (ANSS) to $360 from $375 and keeps a Sector Perform rating on the shares after Synopsys (SNPS) announced its intent to acquire Ansys. The deal makes strategic sense based on the potential for synergies across chip design, simulation and analysis, the analyst tells investors in a research note. RBC adds that given a comprehensive process, board approvals, and a sizable check for a competitive bid, it does not anticipate another bidder.
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