Synopsys price target raised by $10 at Wells Fargo, here’s why

Wells Fargo analyst Gary Mobley raised the firm’s price target on Synopsys to $630 from $620 and keeps an Overweight rating on the shares. The company’s 10-K reveals solid current remaining performance obligations, or CRPO, which supports the idea Synopsys’ FY24 revenue guide is conservative, the firm says. Wells also believe the SIG spin will provide shareholder value.