Synopsys price target raised to $400 from $350 at Atlantic Equities

Atlantic Equities analyst Peter Sazel raised the firm’s price target on Synopsys to $400 from $350 and keeps an Overweight rating on the shares. The company delivered solid fiscal Q4 results while giving stronger than expected fiscal 2023 guidance, Sazel tells investors in a research note. The analyst says the revenue guidance underscores Synopsys’ "resilient business model and the accelerated secular demand growth for EDA products."